Shares of Indian Railway Finance Corporation Ltd (IRFC) are trading flat after touching a day’s high of Rs 127.70 on 12th August, despite the company announcing that it had executed a Rs 2,539 crore refinancing facility 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. Dilip Kumar Samantray, MD of ASRL, and Deepa Kotnis, Executive Director (Finance) of IRFC, were present during the signing. Senior officials also attended.

ASRL is promoted by RVNL, CONCOR, the Odisha government, and private partners. It operates a 113.4 km broad-gauge railway line in Odisha. This line links mineral-rich areas to coal, steel, power, and port facilities. It serves as a key freight corridor, enhancing the transportation of coal, iron ore, steel, and other commodities. This alleviates congestion on existing routes and improves supply chain efficiency.

The Rs 2,539 crore refinancing from IRFC offers competitive terms and a repayment plan matched to the project’s revenue cycles. This will help ASRL meet its financial obligations, free up funds for expansion, and enhance operations.

The move is expected to make the project more viable over time. It strengthens its role in regional economic growth and India’s rail freight capacity.

IRFC’s CMD said the company is committed to providing financing solutions. These solutions benefit all stakeholders while supporting nation-building and strengthening India’s logistics and infrastructure, with railways at the core.

At 10:54 AM, the shares of IRFC Ltd were trading 0.43% lower at Rs 126.27 on NSE.

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