Date of Post : 07 July, 2017
Panaji: The government of Goa has agreed to contribute an amount of Rs 18.60 Crore towards Konkan Railway Corporation Limited (KRCL) to take up track doubling & expansion work in Goa.
More About the Contribution of Goa Government:
- Goa Government owns 6% stake in Konkan Railway Corporation Limited (KRCL).
- The funds will be contributed through an issue of shares by Konkan Railway to the state government in proportion to its 6% stake.
- KRCL decided to increase its authorized equity share capital in order to raise funds for various capital expenditure projects which includes:
- Doubling of tracks
- Upgradation of platforms.
- The clearance to increase the authorized equity share capital to Rs 4,000 crore from Rs 806 crore was given in December 2016.
- The difference of Rs 3,194 crore will be contributed by the Union ministry of railways and the four states of Maharashtra, Karnataka, Goa and Kerala, based on their stake in Konkan Railway.
- In 2016-17, net profit of KRCL was Rs 62 crore but being largely passenger driven, over 60% of the revenues came from passenger movement.