K&R Rail Engineering Ltd signs an MOU with South Korean major UNECO for composite sleeper plant
Ahmedabad: K&R Rail Engineering Ltd, a leading Railway infrastructure company offering services in laying of track, signalling, electrification and telecommunication in the Railway Industry is proud to announce that it has signed a Memorandum of Understanding (MOU) with UNECO Co. Ltd, a South Korea-based company engaged in the manufacture and sale of industrial machineries, to establish a Composite Sleeper Plant in India. With the estimated cost of Rs. 400 crores, this plant will be located in Nagarnar, near the NMDC Steel Plant in Madhya Pradesh.
- The plant will be set up in Madhya Pradesh with the estimated cost of Rs. 400 crores
- Earlier, the company had bagged $500 mn deal for world’s longest cable car project in Nepal
Elaborating the details about the development, Mr. Amit Bansal, Joint MD and CEO, K&R Rail Engineering Ltd said “We are immensely happy to announce signing an MOU with UNECO Co. Ltd. Under the MOU, this facility will cater to the needs of Indian Railways, DFCC/METROs, Public Sector Undertakings (PSUs), and private corporations. This collaboration with South Korean major will see the execution of a Composite Sleeper Plant specifically designed to service the diverse clientele mentioned above. The project is expected to be completed within a timeframe of 48 months.”
K&R Rail Engineering Ltd, India’s only end-to-end solutions provider specializes in providing comprehensive services for the establishment of private railway sidings on a turnkey basis, encompassing various construction activities related to railway infrastructure. These services include conducting independent engineering surveys, planning, and project management for private entities. The company undertakes projects across a range of industries such as steel, aluminium, thermal and captive power, major ports, and cement factories. The company has some notable clients like ACC Ltd, BHEL, GMR, JSW, Dalmia Bharat to name a few.
Earlier, K&R Rail Engineering signed an MoU for execution of the world’s longest cable car project in Nepal with Muktinath Darshan Private Limited. With an estimated cost of USD 0.5 mn, the cable car will connect the Holy Shrine of Muktinath Temple in Gandaki province of Nepal. This project will facilitate thousands of devotees who trek through elements to an altitude of 3,700 metres every year to reach the Temple of Muktinath.
In terms of financial performance, the company recorded a net profit of Rs. 1.05 crores, total income of Rs. 144.72 crores and EPS of Rs. 0.50 in Q3 FY24 ended in 31 December, 2023. For the FY2023, the company saw net profit of Rs. 5.27 crores, total income of Rs. 308.20 crores and EPS of Rs. 3.34.
K&R Rail has successfully executed Railway projects in the tune of more than Rs. 2,500 crores and has executed Railway Embankment work of more than 20 Lacs Cum. The company has given consultancy to Railway projects for handling more than 50 MTPA traffic in Indian Railway. It has recently added of some very niche product lines which are highly margin accretive and volume potential. The company is expecting 25% contribution of these value-added products by FY25.
K&R Rail has also opened another subsidiary known as “Robsons Engineering & Constructions Pvt. Ltd” to meet the domestic and Global trade requirements to the countries directly from the Indian sub-continent. The company is working towards utilizing the existing strengths to address the markets and augmenting it capacities both in terms of offered services and products.
