Adani Grp to invest Rs2,000 cr in 3-4 yrs for rail network

Adani Grp to invest Rs2,000 cr in 3-4 yrs for rail network

New Delhi: Gujarat-based Adani Group will invest Rs2,000 crore in more than trebling its rail network from about 90 kms currently to around 290 kms in the next 3-4 years.

The execution of additional rail tracks would be undertaken by group firm Adani Rail Logistics Pvt Ltd.

“We will add about 200 kms of rail tracks in the next 3-4 years with an investment of 2,000 crore," Adani Rail Logistics Pvt Ltd CEO Yogendra Sharma said on the sidelines of an event organised by industry chamber Assocham.

To provide linkage to its coal mines in Chhattisgarh and Orrisa, the firm would lay down rail tracks of 80 kms and 50 kms respectively in the two states.

Another 64 kms of rail network would be added for doubling its rail line to Mundra Port in Gujarat from the nearest railway station.

The investments would be “project-specific" and the various group firms would arrange for the required funds, Sharma said.

The railway lines would not only cater to Adani Group businesses but also carry third-party cargo, he added.

The group has diversified business interests with operations in oil and gas, ports, logistics, real estate, edible oil and IT enabled services.