IRFC executes ₹2,539 crore refinancing for Angul Sukinda Railway to boost project viability

New Delhi, India (Metro Rail Today): Indian Railway Finance Corporation (IRFC) has extended a refinancing facility worth ₹2,539 crore to Angul Sukinda Railway Limited (ASRL), an SPV operating a key 113.4 km broad gauge freight corridor in Odisha.

The loan agreement was signed at IRFC’s New Delhi office between Mr. Dilip Kumar Samantray, Managing Director, ASRL, and Ms. Deepa Kotnis, Executive Director (Finance), IRFC, in the presence of senior officials from both organisations.

ASRL, promoted by Rail Vikas Nigam Ltd (RVNL), Container Corporation of India (CONCOR), the Government of Odisha, and private partners, connects mineral-rich belts to coal, steel, power, and port facilities. This strategic freight corridor helps ease congestion on existing railway lines and improves the supply chain efficiency for industries in the region.

The refinancing package offers competitive interest rates and a repayment schedule aligned with the project’s revenue cycles. This will not only help ASRL meet its debt obligations more comfortably but also free up capital for capacity expansion, operational upgrades, and service improvements.

Recently accorded Navratna status, IRFC is diversifying its portfolio to include projects with forward and backward linkages to the railways — such as power, mining, ports, multimodal logistics, metro rail, and freight corridors — while maintaining its zero-NPA track record.

“IRFC is the one-stop dedicated financier for all project requirements in the railway ecosystem, with forward and backward linkages. We are committed to providing competitive financing solutions that create a win-win for all stakeholders, while supporting nation-building and strengthening India’s ever-growing logistics and infrastructure backbone, with railways at its core,” said the IRFC Chairman and Managing Director.

“Strategic refinancing like this is not just about lowering borrowing costs — it is about enabling long-term operational resilience. By supporting freight corridors that link resource hubs to industrial and port facilities, IRFC is directly contributing to decongesting the railway network, reducing logistics costs, and boosting India’s global competitiveness,” said Mrs. Mamta Shah, MD & CEO of Urban Infra Group.

This strategic refinancing is expected to enhance the long-term viability of ASRL, enabling it to continue contributing to regional economic growth and India’s freight movement capacity.