RAIL VIKAS NIGAM LIMITED रेल विकास निगम लिमिटेड

LOK SABHA 

RAIL VIKAS NIGAM LIMITED

253. SHRI HANUMAN BENIWAL:

Will the Minister of RAILWAYS be pleased to state :

(a) whether the Rail Vikas Nigam Ltd (RVNL), a PSU of Ministry of Railways, executed the new line construction work for a private company, Krishnapatnam Railway Company Limited (KRCL) and incurred excess expenditure without receiving the requisite payment from KRCL;

(b) if so, the details of outstanding amount (including interest) receivable by RVNL from this private company;

(c) whether this is a case of diversion of railway money to private company as unsecured advance and if so, the details thereof;

(d) the details of rules and procedures laid down by the Government in this regard;

(e) whether the same has been followed in this case by the RVNL officials and if so, the details thereof; and

(f) if not, the action taken by the Railways in this regard?

(SHRI ASHWINI VAISHNAW)

(a) to (f) A Statement is laid on the Table of the House.

STATEMENT REFERRED TO IN REPLY TO PARTS (a) to (f) OF STARRED QUESTION NO.253 BY SHRI HANUMAN BENIWAL TO BE ANSWERED IN LOK SABHA ON 03.08.2022 REGARDING RAIL VIKAS NIGAM LIMITED

(a) Krishnapatnam Railway Company Limited (KRCL) is one of the Six Special Purpose Vehicles (SPVs) set up by RVNL for last mile rail connectivity to ports and industrial areas.

KRCL has entered into a Concession Agreement with Ministry of Railways for the rail line and the land belongs to Indian Railways. RVNL has constructed the rail connectivity after entering into Construction Agreement between RVNL and KRCL.

The funding of this rail connectivity Project has been made as per following: –

• I) Bank Loans- ₹ 1075 cr.
• II) Equity- ₹ 625 cr.
• III) Internal Accrual- ₹ 89 cr.
• IV) ₹ 838.10 cr. is trade receivable to RVNL (principal amount).

(b) Outstanding principal amount of RVNL is ₹ 838.10 cr. Additionally the interest on this amount as on 31.03.2022 is ₹ 530.18 cr. as per Audit Report of Financial Year 2021-22.

(c) to (f) No railway fund has been spent on this project. The excess expenditure is made out of Rail Vikas Nigam Limited balance sheet. Action as per law being taken against concerned officials.