Odisha to have 10% stake in rail link for port-led development.

Odisha has confirmed 10 per cent equity participation in the Special Purpose Vehicle (SPV) of Indian Port Rail Corporation Ltd. (IPRCL) that will be formed for development of a heavy haul rail corridor from Salegaon to Paradip port.

The corridor will strengthen supply side connects from mine to port and will boost coastal movement of 140 million tonne per annum of coal, as envisioned in Sagarmala National Perspective Plan, said a release.

Including the third and fourth line development between Budhapank and Salegaon by Indian Railways, the project entails an investment of ₹4,500 crore and will be executed by the SPV between IPRCL, RITES, Paradip Port Trust, the Odisha government and Mahanadi Coalfields Ltd.

The rail link will serve as the last-mile connectivity to transport bulk cargo of thermal coal from the Mahanadi Coalfields Ltd (MCL) via coastal shipping at Paradip, to power plants in coastal regions of southern States. It will also serve the four major industrial clusters – Jharsuguda-Sambalpur; Angul-Talcher-Dhenkanal; Kalinganagar Steel Hub; and port-based industrial area of Paradip.

HBL