Ircon International announced that the Ministry of Railways has
granted in-principle approval to take over Phase- I (Angul- Balram, 14 KM already operational) and Phase-II (Balram-Putgadia-Tentuloi, 54 KM under construction) of Mahanadi Coal Railway (MCRL), a joint venture company of IRCON (IRCON holds 26% share in MCRL). The legal formalities, pricing and related modalities are in process.
IRCON's share of loss in FY 2023-24 was Rs.41.11 lakh and the share of
Net worth as on 31 March 2024 was Rs.109.73 crore.