Tata Steel enters agreement for additional rail line for Kalinganagar Steel Plant

Tata Steel (TSL) has on 15 December 2021, executed a long-term agreement with Angul Sukinda Railway (ASRL), for the construction, operation and maintenance of an alternate railway line (Additional Rail Line).

The agreement is for a period of 20 years to meet the logistic requirements of TSL's Kalinganagar Steel Plant.

TSL will be funding the entire expenditure of Rs 400 crore (in a phased manner) for construction of the Additional Rail Line by subscribing to 40,00,00,000 non-convertible, non-cumulative, redeemable preference shares of face value Rs 10 each (RPS) of ASRL (Transaction).

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