RAIPUR: A project execution agreement to construct a new railway line was signed between Bastar Railway Private Limited (BRPL) and the Indian Railway Construction Company in the Chhattisgarh capital Raipur today.
An agreement to construct 140 km long rail line and 13 new railway stations IRCON was signed in the presence of chief minister Raman Singh. The line will connect Jagdalpur and Rawghat.
The estimated cost of the proposed rail corridor is Rs 2538 crore.
Bastar Railway Private Limited is a Joint Venture Company formed by NMDC Limited, SAIL, IRCON, and CMDC Limited. With 43 per cent equity stake, NMDC is the major shareholder.
Chairman of BRPL, TRK Rao and Executive Director of IRCON M L Gupta, signed the project execution agreement.
The first phase of land acquisition for the project has already started, the officials told the New Indian Express.
Secretary of Department of Mineral Resources Subodh Kumar Singh was present on the occasion.