Pipava Railway Corporation Limited presents Rs 19.60 crore cheque to Sadananda Gowda

NEW DELHI: Railway Minister Sadananda Gowda today received a cheque of Rs 19.60 crore as an interim dividend of 20 per cent for the financial year 2014-15 from Pipava Railway Corporation Limited (PRCL).

PRCL is the first flagship joint venture company of Railways and Gujarat Pipavav Port Limited ( GPPL), formed in the PPP model in railway infrastructure.

The cheque was presented by the chairman of the PRCL D P Pande, who is also Member Traffic amid the presence of senior officials.

The company has constructed, operates and maintains the Surendranagar-Pipavav 270 km long railway line since April 2003, said a senior Railway official.

During 2013-14, the company has carried 8.71 million tonnes (MT) of cargo on the Pipavav line and earned Rs 232.21 crore from its freight operations compared to 6.86 MT of cargo and revenue of Rs 178.98 crore earned during 2012-13, indicating a growth of 30 per cent.

In the current financial year (2014-15) up to August 2014, the company has carried 4.09 MT of cargo and earned Rs 98.65 crore.