Sagarmala Development Company to infuse Rs 1.25 billion in KRCL

Sagarmala Development Company Limited (SDCL) has decided to infuse Rs 1.25 billion in SPV Krishnapatnam Railway Company Limited (KRCL), formed to provide rail connectivity between Krishnapatnam port and Obulavaripalle in Andhra Pradesh. The total cost of the rail connectivity project is estimated to be Rs 21.99 billion, of which Rs 14.58 billion will be met through debt. The existing equity in the project is Rs 2.7 billion with an additional Rs 1.25 billion envisaged to be infused by SDCL; Rs 1.87 billion of the equity requirement is to be met by existing shareholders or by Rail Vikas Nigam Limited and the remaining Rs 1.59 billion will come from internal accruals.