SAIL signs MoU with IRCON for cooperation in rail infrastructure projects Maharatna Steel Authority of India Limited (SAIL) signed a memorandum of understanding (MoU) with IRCON International Limited. IRCON is a public sector undertaking (PSU) under the Ministry of Railways. The companies would jointly work on rail infrastructure projects in India and abroad. The MoU was signed by the Directors (Finance) of SAIL and IRCON in the presence of SAIL Chairman CS Verma, IRCON MD Mohan Tiwari, and Directors and senior executives of both companies.
IRCON has an expertise in development of surface transportation infrastructure and has handled around 300 projects in India and abroad. It is presently setting up rail infrastructure in a number of developing countries. SAIL is the major Indian producer and supplier of railway materials. The MoU was a first step by SAIL and IRCON towards joining hands for an efficient execution of public-public and public-private partnership projects of the Indian Railways. As well as, participating in rail infrastructure projects in the developing countries where there is no infrastructure for evacuation of raw materials.
Verma said,
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
