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Indian Port Rail Corporation Ltd (IPRCL) is in talks with Indian Railways to implement a ₹ 15,000 crore rail link project to connect Indore with Mumbai.
In this project JN Port will put in 51 per cent equity and the Railways will have put in 49 per cent of the funds, Anoop Kumar Agrawal, Managing Director, IPRCL, told this to BusinessLine .
The mandate of IPRCL involves implementing port-connectivity projects faster by putting in funds from the ports and Indian Railways.
IPRCL is a new firm set up by the Shipping Ministry to undertake projects as a part of port-led development scheme -- Sagarmala -- planned to make Indian products competitive.
The rail-link project will connect Indore, which is a container hub, with Mumbai in a shorter distance lowering the distance by 200 km from the present 850 km rail link between the two cities. The present rail link goes through Surat, Vadodara, Ratlam; while the new rail link with go through Manmad.
IPRCL is already implementing ₹ 6000 crore worth of rail link projects where it basically helps Railway speed up the project implementation.
Of these ₹ 1,000 crore worth of projects are being undertaken within the port boundary which involves tasks like improving the railway signalling system and tracks.
About ₹ 5,000 crore worth of projects are being implemented outside of the port boundary to the nearest railway link. These are largely projects like building a second or a third railway link parallel to the existing rail link, which are already congested.
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