M/s. Konkan Railway Corporation Limited (KRCL) and M/s. Balaji Infra Projects Ltd. (BIPL) have signed a Memorandum Of Understanding between Mr. Bhanu Tayal, Managing Director, KRCL and Mr. Vijay G. Kalantri, Chairman & Managing Director, and Mr. Vishal Kalantri, Director - Dighi Rail Infrastructure Limited (DRIL) for developing 45 kms rail link connecting Dighi Port to the main Konkan Rail held at Indapur and Mangaon, as declared by KRCL press release.
The entire project would entail a total investment of approx. Rs.500 crores and the development shall span approx. 2 years.
More importantly, when rail siding is commissioned; it would give Dighi Port the access to the Central, Northern and Southern hinterland of Maharashtra.
This MOU is the first of its kind to be executed between M/s. KRCL and any port in Maharashtra.
M/s. Balaji Infra Projects Ltd. have undertaken the development of Dighi Port through its
Special Purpose Vehicle (SPV), M/s Dighi Port which shall be commissioned by April 2010.
The total investment in the port is approx. Rs. 1500 crores.
As per the MOU, M/s. KRCL shall acquire land for the Railway siding and also develop the Railway siding. They shall also operate and maintain the same and provide the necessary backup services and rolling stock for carrying out the operations.
The entire cost of this development shall be borne by M/s BIPL through a mix of equity and debt.
M/s KRCL being a part of this entire development shall ensure smooth carriage of cargo to and from Dighi Port under the Delhi Mumbai Industrial Corridor (DMIC).
Keeping in line with this development M/s. Balaji Infra Project Ltd. has recently executed an MOU with M/s CONCOR to establish the framework to facilitate the creation of logistic infrastructure and services for all port users in Dighi Port.