IRFC Supports the Development of India's First Multi-Modal Transport Hub at Surat

Indian Railway Finance Corporation (IRFC) has sanctioned and executed agreements for a fresh term loan facility of ₹199.70 crore with Surat Integrated Transportation Development Corporation Limited (SITCO) to support the development of the Surat Multi-Modal Transport Hub (MMTH). The loan document was signed today at SITCO's New Delhi office between Mr. Mohit Kumar, Director, SITCO and Ms. Namrata Makharia, Company Secretary, SITCO and Mr. Ashish Saini, General Manager Finance, IRFC, in the presence of senior officials from both organisations.

Established in 1986 as the dedicated financing arm of the Ministry of Railways, IRFC has played a pivotal role in strengthening India's rail infrastructure by mobilising resources at competitive rates. Recently accorded 'Navratna' status, the company is expanding its role as a diversified infrastructure financier within the railway ecosystem, with a mandate covering projects that have forward and backward linkages with railways, such as power generation and transmission, mining, fuel, coal, warehousing, telecom, hotels and catering, metro rail, freight corridors, ports, multimodal logistics etc. IRFC continues to maintain a strong asset quality track record with a zero-NPA portfolio.

Surat Integrated Transportation Development Corporation Limited (SITCO)-a joint venture of the Ministry of Railways and Government of Gujarat -is developing India's first internationalstandard Multi-Modal Transport Hub (MMTH) at Surat. The project will integrate rail, metro, BRTS, city and regional buses, and intermediate transport modes like autos and taxis, while also upgrading passenger amenities and station infrastructure.

Indian Railway Finance Corporation (IRFC) has extended financing support to SITCO for the construction of components of the Surat MMTH. This intervention strengthens the project's financial viability and ensures its long-term sustainability. The funding will accelerate the timely execution of the project while contributing to regional economic growth and enhancing India's transport infrastructure capacity.

Speaking on the occasion, the IRFC Chairman and Managing Director said: "IRFC is the dedicated financing arm for projects in the railway ecosystem, with strong forward and backward linkages. Our support to the construction of SITCO's landmark Surat MMTH project reflects our commitment to providing competitive financing solutions while developing railwaylinked infrastructure that powers India's logistics, strengthens urban mobility, and contributes to the nation-building journey."

Shares of Indian Railway Finance Corporation Limited was last trading in BSE at Rs. 126.80 as compared to the previous close of Rs. 124.85. The total number of shares traded during the day was 1205295 in over 9683 trades.

The stock hit an intraday high of Rs. 127.00 and intraday low of 124.05. The net turnover during the day was Rs. 151533269.00.

Source : Equity Bulls

Keywords

IndianRailwayFinanceCorporation INE053F01010 IRFC NBFC TermLoanFacility SITCO