Indian Railway Finance Corporation (IRFC) has executed a refinancing facility worth Rs 25.39 billion for Angul Sukinda Railway Limited (ASRL), a special purpose vehicle within the railway ecosystem. The loan agreement was signed at IRFC’s New Delhi office by ASRL Managing Director Dilip Kumar Samantray and IRFC Executive Director (Finance) Deepa Kotnis, in the presence of senior officials from both organisations.

Founded in 1986 as the dedicated financing arm of the Ministry of Railways, IRFC plays a key role in mobilising resources at competitive rates to strengthen India’s rail infrastructure. Recently granted ‘Navratna’ status, IRFC is expanding into a diversified infrastructure financier for projects with forward and backward linkages to railways, including power, mining, fuel, warehousing, metro rail, freight corridors, ports, and logistics. The corporation maintains a zero-NPA portfolio, underscoring its strong asset quality.

ASRL, promoted by Rail Vikas Nigam Ltd (RVNL), Container Corporation of India Ltd (CONCOR), the Government of Odisha, and private partners, operates a 113.4 km broad gauge railway line in Odisha. This strategic freight corridor links mineral-rich belts to coal, steel, power, and port facilities, improving transportation efficiency for key commodities such as coal, iron ore, and steel, while reducing congestion on existing routes.

The refinancing package offers competitive financing terms with repayment aligned to the project’s actual revenue cycles. This approach is expected to enhance ASRL’s ability to meet financial obligations while freeing up resources for expansion, capacity upgrades, and operational improvements, ensuring the project’s long-term viability and continued contribution to regional economic growth.

IRFC Chairman and Managing Director said: “IRFC is the one-stop dedicated financier for all project requirements in the railway ecosystem. We are committed to providing competitive financing solutions that benefit all stakeholders, while supporting nation-building and strengthening India’s logistics and infrastructure backbone.”

This refinancing aligns with IRFC’s strategy to bolster critical railway-linked infrastructure, ensuring associated entities remain financially strong and ready to meet the demands of India’s expanding logistics sector.