India’s Ministry of Coal will sign a memorandum of understanding with the Railway Ministry and the Odisha Government for implementation of common rail corridor projects for coal evacuation.
Union Coal Secretary Anil Swarup had said that two special purpose vehicles will be jointly formed by Odisha government, railways, and Mahanadi Coalfields Limited (MCL) for evacuation of coal from Talcher and Ib Valley areas.
In the proposed special purpose vehicles, MCL will have 64 percent stake, while the Indian Railways and Odisha government will have a share of 26 percent and 10 percent, respectively.
The railway ministry had recently reviewed the progress of three rail corridor projects in the state, including the Jharsuguda-Barpali-Sardega corridor in Ib Valley.
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