IRFC Extends ₹2,539 Crore Refinance to Angul Sukinda Railway Project

12 Aug 2025 , 11:05 AM

The Indian Railway Finance Corporation Ltd (IRFC) has extended a refinancing facility of ₹2,539 crore to Angul Sukinda Railway Limited (ASRL), a key freight corridor operator in Odisha. The loan documents were signed on August 11 at IRFC’s headquarters by ASRL Managing Director Dilip Kumar Samantray and IRFC Executive Director (Finance) Deepa Kotnis, in the presence of senior executives from both sides.

ASRL is a special purpose vehicle promoted by Rail Vikas Nigam Ltd (RVNL), Container Corporation of India Ltd (CONCOR), the Odisha government and private partners. It runs a 113.4 km broad gauge line linking the mineral belts of Angul and Sukinda with coal mines, steel plants, power units and port facilities. The corridor is a crucial link for transporting coal, iron ore, steel and other bulk cargo, helping to decongest busy rail routes and cut turnaround times for industries in the region.

The refinance package comes with more competitive terms and a repayment plan that matches the project’s revenue cycles. This, IRFC said, will help ASRL manage its debt more efficiently while freeing up funds for capacity expansion and operational upgrades.

Officials expect the move to improve the long-term viability of the project, which is considered vital for boosting both regional trade and India’s overall rail freight capacity. “IRFC is the single-point financier for the railway sector. We aim to provide funding solutions that support growth, efficiency and nation-building,” the corporation’s Chairman and Managing Director said.

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