Panaji: A 33.7-km railway corridor, connecting Jaigarh Port to Digni station of the Konkan Railway, is set to become a reality. Devendra Fadnavis, Maharashtra Chief Minister, Suresh Prabhu, Union Minister of Railways, and Nitin Gadkari, Union Minister for Transport and Ports, on Saturday laid the foundation stone for the Jaigarh-Digni rail link.
The project has been conceptualised by the Konkan Railway Corporation Limited (KRCL) under a joint venture (JV) model of the Rail Participative Policy promulgated by the Ministry of Railways.
The JV company has been formed as Jaigarh Digni Rail Limited (JDRL), in which JSW Jaigarh Port Limited (JSWJPL), KRCL, and Maharashtra Maritime Board (MMB) are the shareholders. The PPP project will be implemented by JSW Infrastructure, an arm of JSW Group, which will hold 63% share, KRCL 26%, and the MMB remaining 11% share.
The special purpose vehicle executing the project has been named Jaigarh Digni Rail Ltd., said L. K. Verma, public relation officer of KRCL, on Saturday.
JSWJPL, an arm of JSW Infrastructure Limited, signed a 30-year concession agreement with the Ministry of Railways through KRCL on June 28, 2015. JSWJPL will develop this project under PPP model for development, operation, and maintenance. The estimated cost of the project is ₹771 crore, which is being funded through a combination of equity and debt.
The alignment for this new rail line passes through the difficult terrain of Sahyadri mountains which would necessitate construction of about 18-km-long tunnels. The estimated time of completion is 30 months, and the corridor is expected to handle a freight traffic of around 12 million tonnes per annum to and from Jaigarh Port.
On completion, this project will help the company haul commodities from Jaigarh Port to the Konkan Railway, and will bring a socio-economic change in the region by creating more jobs, said Mr. Verma.
