Coal News We love to talk!

MAY 29 2015

Coal India to invest Rs 5000 crore to procure railway wagons

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 29th MAY 2015

Coal India will invest Rs 5,000 crore in the Railways to procure wagons for speedy transportation of coal. "We will sign anMoU with Coal India which has agreed to invest Rs 5000 crore for wagon procurement," Railway Board Member (Traffic) Ajay Shukla said. 

Railways is currently facing a shortage of wagons for carrying coal, causing strain on its ambitious target of transporting 1.18 billion tonnes of freight this year. 

Coal transportation is a major source of freight earning as its accounts for 47 per cent of total goods earning. 

The investment will ensure a guaranteed supply of wagons for early coal evacuation from Odisha and Chhattisgarh, the official said. On the ongoing Gujjar agitation, Shukla said it has affected the rail traffic badly, causing huge losses. 

"We are losing about Rs four crore per day for cancellation and diversion of trains. But on freight, the loss is of Rs 25 crore per day as goods trains run daily," he said. 

According to Shukla, the agitation has led to cancellation of over 300 passenger trains till date. 

Tags

RAILWAYS TOTAL Odisha Coal India

Related News

  • Indias increasing green growth  Read more
  • More bankers to sign up for Coal Indias Rs.35,000 cr shopping plan  Read more
  • Additional power supply to light up more areas in Bihar  Read more
  • India, Bangladesh discuss cooperation in hydrocarbons  Read more
  • PM dedicates Mysuru-Bengaluru electrified railway line to the nation  Read more
  • India welcomes World Bank move to halt parallel processes on Indo-Pak hydro projects  Read more
  • Coalmin urges West Bengal govt to change land policy for mining  Read more
  • Moily for raising prices of natural gas effective April 1  Read more
  • Fuel sales increase between 30 per cent and 40 per cent since demonetization  Read more
  • Neyveli Lignite Corporation board to consider share buyback next week  Read more