Ministry of Railways grants in-principle approval for takeover of Mahanadi Coal Railway

Ircon International announced that the Ministry of Railways has granted in-principle approval to take over Phase- I (Angul- Balram, 14 KM already operational) and Phase-II (Balram-Putgadia-Tentuloi, 54 KM under construction) of Mahanadi Coal Railway (MCRL), a joint venture company of IRCON (IRCON holds 26% share in MCRL). The legal formalities, pricing and related modalities are in process.

IRCON's share of loss in FY 2023-24 was Rs.41.11 lakh and the share of Net worth as on 31 March 2024 was Rs.109.73 crore.

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