Rajendra Ram, who was working as a private watchman, guarding the scraps and other equipments of railway contractor Subodh singh was killed last night in Niyamtabad village, they said.
Station Officer Arun Yadav said railway scrap of more than Rs 12 lakh was missing from the site.
Police is investigating the case and ascertaining that whether the watchman was murdered in a loot bid, he said.