KRCL secures ₹1.25-bn rail corridor contract

Krishnapatnam Railway Company Limited (KRCL) has recently secured a contract worth ₹1.25 billion from Sagarmala Development Company for developing a rail corridor for Krishnapatnam port in Andhra Pradesh. KRCL is formed as a joint venture company to develop 114-km rail corridor between Obulavaripalli in Kadapa district and Krishnapatnam with an estimated project cost of ₹18.50 billion. The corridor will connect Krishnapatnam port on the east coast with Indian Railways' network at Venkatachalam and Obulavaraipalli. A 21-km section of the project line from Krishnapatnam to Venkatachalam has already been converted into double line. The new rail corridor connecting Kadapa city with Krishnapatnam Port will help optimize costs, accelerate growth whilst enhancing the city's EXIM competitiveness, said managing director, KRCL, Anil Yendluri, adding that KRCL has five joint venture partners: namely Rail Vikas Nigam Limited (30% stake), Krishnapatnam Port Company Limited (30%), NMDC Limited (15%), Andhra Pradesh government (13%), and BIL (12%), said official sources.

: Published: 16 November 2018

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