IRFC looks beyond Indian Railways, weighs opportunity to finance infra projects having linkages with Railways

New Delhi: Indian Railway Finance Corporation, a financial institution under the ministry of railways, is looking to fund public and private infrastructure projects to expand its business that has been focused on mobilizing and funding projects of the Indian Railways. IRFC is also exploring opportunities to fund rolling stock requirements for Indian Railways customers, container train operators, renewable energy needs of Indian Railways, Metro Rail projects, port rail connectivity, and PPP projects sanctioned by Indian Railways, he added. The financing institution has already secured three orders in the current quarter for funds totalling ₹11,500 crore outside Indian Railways for meeting the requirements of three NTPC projects including a wagon procurement programme by the PSU. Dubey said more opportunities for funding such projects would arise soon and IRFC will participate in all such RFPs with competitive bids based on its attractive loan offerings, buily upon a low-cost fund mobilisation strategy. In its first set of project financing orders outside the Railways, IRFC emerged as the lowest bidder to finance ₹3,167 crore for the development of the Banhardih Coal Block in Jharkhand bring executed by Patratu Vidyut Utpadan Nigam Ltd, a joint venture where NTPC holds 74% equity stake and Jharkhand Bijli Vitran Nigam Ltd 26%.