IRCON completes 30 Km Korichhapar-Dharamjaigarh Section

Ircon International Ltd, achieved yet another milestone by opening the 30 KM section between Korichhapar to Dharamjaigarh within the targeted date i.e., 31.12.2020. A Trial run was carried on 31st December 2020.

The cost of this line is approximately 325 crores and the work is executed by Ircon International under an SPV named Chhattisgarh East Railway Limited. SECL, IRCON and Chhattisgarh Government are shareholders for the Chhattisgarh East Railway Limited.

A section of 44Km length between Kharsia to Korichhapar is already made operational by IRCON in October 2019. Now, with the completion of Korichhapar-Dharamjaigarh, the complete section of 74 Km between Kharsia Dharamjaigarh is functional. Commencement of this section will help in evacuation of coal from North Chhattisgarh Area thereby helping in developing the entire nation. This 74 Km is the first stretch being commissioned under the PPP model.

Following this development, the Goods train can reach upto Durgapur, Baroud and Chhaal mines of SECL, consequently enhancing the earning of SECR and SECL.

Shares of IRCON International Ltd was last trading in BSE at Rs.91.3 as compared to the previous close of Rs. 91.35. The total number of shares traded during the day was 73112 in over 1067 trades.

The stock hit an intraday high of Rs. 92.05 and intraday low of 90.1. The net turnover during the day was Rs. 6660652.

Source : Equity Bulls

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