The Indian Railway Finance Corporation Ltd (IRFC) has sanctioned a refinancing facility worth Rs 25.39 billion to Angul Sukinda Railway Limited (ASRL), a key freight corridor operator in Odisha. The loan agreement was signed on 11 August 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 organisations.

ASRL is a special purpose vehicle jointly promoted by Rail Vikas Nigam Ltd (RVNL), Container Corporation of India Ltd (CONCOR), the Odisha government, and private partners. It operates a 113.4 km broad gauge line connecting the mineral belts of Angul and Sukinda with coal mines, steel plants, power units, and port facilities. The corridor plays a crucial role in transporting coal, iron ore, steel, and other bulk cargo, reducing congestion on busy rail routes and improving turnaround times for regional industries.

The refinancing arrangement offers more competitive terms and a repayment schedule aligned with the project’s revenue cycles. IRFC stated that this structure will help ASRL manage debt more efficiently, while freeing capital for capacity expansion and operational upgrades.

Officials expect the deal to strengthen the long-term viability of the project, which is regarded as essential for enhancing regional trade and boosting India’s 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,” said the corporation’s Chairman and Managing Director.