Jharkhand Central Railway Limited (JCRL), came into existence on August 31, 2015 and has been registered under Companies Act 2013 in terms of MoU signed between Ministry of Railways, Ministry of Coal and Government of Jharkhand on 4th May 2015, followed by MoU signed between CCL, IRCON and Govt. of Jharkhand on 20th May 2015.
JCRL is formed as an SPV with a purpose to undertake project development, financing and implementation of identified rail projects in the State of Jharkhand important for coal connectivity for evacuation of coal through rail. It is a Joint Venture (JV) company of Central Coalfields Limited (64%), IRCON International Limited (26%), and the Government of Jharkhand (10%).
At present, JCRL is in process of implementing its flagship project, “New BG Electrified Rail Coal Corridor from Kathautia to Shivpur of East Central Railway” in the State of Jharkhand. This rail line having total length of 49.085 km is important for enhancing the coal transportation efficiency and meeting the future coal production requirements in the region of North Karanpura and its vicinity as it will considerably shorten the total distance from coalfields area to current and future power plants in Bihar, Jharkhand, Uttar Pradesh, Haryana and Punjab.
JCRL achieved financial closure on May 05, 2022 for arranging the fund based on the financing model of debt equity ratio of 70:30. With a total project cost of ₹1799.64 Crores, contribution from equity is Rs. 540 Crore and that from debt is Rs. 1260 Crore which is being availed as loan from a PNB-led consortium, including UCO Bank, Central Bank of India, and Bank of Maharashtra.
The project involves total land acquisition of 222 acre in Hazaribagh district and 1133 acre in Chatra district.
Additionally, in accordance with Section 135 of the Companies Act and the Companies (Corporate Social Responsibility Policy) Amendment Rules 2022, JCRL has formulated its CSR policy. Under its CSR initiatives, JCRL has worked for the enhancement of basic infrastructure and other facilities in various government schools situated along the project alignment at Pathalgadda, Kubba Kala, Pipertoli and Angada in Chatra district. It further aims to work on other sectors as per the social condition in the project area.
In spite of having difficult terrain and local issues, JCRL is committed to complete the project and start coal movement at the earliest duly considering the local area development.
