New Delhi: Coal India Ltd (CIL) has signed a non-binding memorandum of understanding (MoU) with Indian Port Rail & Ropeway Corporation Ltd (IPRRCL) to develop rail infrastructure for the company and its subsidiaries.
The MoU was signed on June 5 in Kolkata, the company said in a filing to the Bombay Stock Exchange.
The purpose of the agreement is to support the development of rail networks that will help transport coal efficiently, especially to major ports.
IPRRCL is a joint venture between 11 major ports under the Ministry of Ports, Shipping and Waterways, which holds 90% of the company’s equity. The remaining 10% is held by Rail Vikas Nigam Limited (RVNL) under the Ministry of Railways. The joint venture focuses on building rail evacuation systems and improving port capacity and logistics.
