IRCON hands over newly commissioned cross-border rail link to Nepal; stock ends 5% lower

Under the grant assistance from Government of India and MoU signed between GoI and GoN to undertake Indo-Nepal Cross Border Railway Projects, the work of Jaynagar (India) to Bardibas (Nepal) rail line project was entrusted to Ircon International Limited.

Oct 25, 2021 05:10 IST India Infoline News Service

IRCON on behalf of Government of India (GoI), has handed over the newly commissioned cross-border rail section from Jaynagar (Km. 0.00) to Kurtha (Km. 34.90) to Government of Nepal (GoN) on 22nd October, 2021. Vinay Mohan Kwatra, Ambassador of India to Nepal and Ms. Renu Kumar Yadav, Minister for Physical Infrastructure and Transport, Government of Nepal, were also present on the occasion.

On behalf of IRCON, Ravi Sahai, Project Head and Surender Singh, Executive Director handed over the project to Niranjan Kumar Jha, MD, Nepal Railway Company Ltd. (on behalf of GoN) and Deepak Kumar Bhattarai, Director General, Department of Railways.

Ircon International Ltd ended at Rs48.80 down by Rs2.7 or 5.24% from its previous closing of Rs51.50 on the BSE.

Under the grant assistance from Government of India and MoU signed between GoI and GoN to undertake Indo-Nepal Cross Border Railway Projects, the work of Jaynagar (India) to Bardibas (Nepal) rail line project was entrusted to Ircon International Limited.

The 1st phase of 34.9 Km Jaynagar (India) – Kurtha (Nepal) section is part of 68.72 Km Jaynagar-Bijalpura-Bardibas rail link being built under Government of India grant assistance of NPR 8.77 billion. This section was earlier a narrow-gauge rail link between Jayanagar and Bijalpura. There are 8 stations and halts on the Jaynagar-Kurtha section, which includes the historically important station of Janakpur.

“This cross‐border rail link is a significant milestone, which will take Indo‐Nepal cooperation to a new level. Soon to be operationalized, this would be the first broad gauge (BG) cross‐ border rail link between India and Nepal which would further boost relations between the two neighboring countries”, stated Shri Yogesh Kumar Misra, Chairman & Managing Director, Ircon International Limited.

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