Indian Railway Finance Corporation (IRFC) has inked a lease agreement with NTPC Limited to finance 8 BOBR rakes worth Rs. 250 crores under the General Purpose Wagon Investment Scheme (GPWIS). This marks the first phase of IRFC’s Rs. 700-crore financing commitment to NTPC for infrastructure development.
Details of the Agreement:
- The IRFC board approved the financing of 20 BOBR rakes under the General Purpose Wagon Investment Scheme (GPWIS) for NTPC, amounting to Rs. 700 crores.
- In the first phase, IRFC has signed a lease agreement for 8 BOBR rakes valued at approximately Rs. 250 crores.
Significance:
This initiative underscores IRFC’s commitment to providing innovative financial solutions for India’s infrastructure growth. The partnership between IRFC and NTPC is a step forward in bolstering the railway sector’s operational efficiency and the power sector’s logistics capabilities.
Signatories and Event Highlights:
- The agreement was formalized on 15th January 2025.
- It was signed by Mr. Sunil Kumar Goel, Group General Manager & CFO of IRFC Ltd., and Mr. Balaji Bhagwatro Narare, Chief General Manager of NTPC.
- Senior officials from both organizations were present during the signing ceremony.
Conclusion:
The IRFC-NTPC lease agreement for BOBR rakes is a testament to the synergies between India’s public sector enterprises in advancing infrastructure goals. With Rs. 700 crores allocated, this collaboration emphasizes the shared vision of fostering sustainable and efficient logistics solutions.
Source: IRFC – Press Release | Image Credit: IRFC
