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The RailTel Corporation of India (RCIL), a public sector unit of the Ministry of Railways, has tied up a loan of Rs. 200 crores from Indian Railway Finance Corporation (IRFC). Out of this , Rs. 150 crores has already been drawn.
In addition, Indian Railways have contributed Rs. 15 crores as seed capital. Besides, Rs. 250 crores will be added as equity in the form of assets transferred by the Railways. Out of this, assets valued at Rs. 219.40 crores have, so far, been transferred to RCIL, so far.
The RCIL was formed in September 2000 to built Optic Fire Cable (OFC) based nationwide telecom and multi-media network with the primary objectives of modernizing train control, operational and safety systems and networks, also to marketing the surplus capacity to earn revenues.
The Company has earned gross revenues of Rs. 45 lakhs, Rs. 9.5 crores. Rs. 12 crores and Rs. 26 crores during the preceding four years.
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