The Indian Railways will shut down its operations in a 35-kilo meter line between Chandrapura and Dhanbad from June 15, which will affect about 75 per cent of production of Bharat Coking Coal Ltd, a subsidiary of state-run Coal India Ltd. This is likely to hit the railways revenue by more than Rs 2,750 crore per annum.
The line which is running through the Jharia coalfields area was under threat of caving in due to underground fire. On an average, the route carries around 25 million tonne of coal traffic which will lead to a loss of Rs 2,500 crore in revenue. The line carries 12.4 million passengers, leading to an annual loss of around Rs 250 crore. Further, there will be loss on account of steel and iron ore traffic but an estimate is not yet made. Read more
Latest posts by Business-Standard.com (see all)
- Vedanta Oil And Gas Projects Pick Up As Crude Price Rises – November 24, 2017
- Indian Railways Accomplishes Major Savings In Its ‘electric Traction Energy Bill’ – November 23, 2017
- Railways Plans To Go Electric In 5 Yrs; Runs-in With GE Diesel Engine Deal – November 23, 2017