Railway Gives Approval for Major Capacity Augmentation Work of Konkan Railway at a cost of Rs 4980 Crores

Railway Gives Approval for Major Capacity Augmentation Work of Konkan Railway at a cost of Rs 4980 Crores

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Date of Post: 16 Oct, 2017

Panaji: The Railways has given its in-principle approval for major capacity augmentation of Konkan Railway at an approx cost of Rs 4,980 crore, and the proposal is in the process of sanction.

Konkan Railway Increase In Revenue

  • A release issued by KRCL (Konkan Railway Corporation Limited), to mark its 27th anniversary, said, the KRCL achieved a net profit of Rs 61 crore for 2016-17, and has registered a growth of 69% in the annual turnover over last three years.
  • The Project Revenue of Konkan Railway also registered significant growth during the year.
  • The turnover of company during the financial year 2016-17 was Rs 2152 Cr.

Increase in Authorized Equity Share Capital:

To boost the development of Konkan region on its Highmark, Ministry of Railways has taken a decision to Increase Authorised Equity Share Capital for providing more financial support to Konkan Railway.

On 16.12.2016 Ministry of Railway (MoR) has accorded Approval for increase of Authorized Equity Share Capital from Rs 806.47 crore to Rs 4,000 crore. Subsequently, shareholders of the Corporation at its meeting held on 28.02.2017 unanimously passed special resolution for increase in authorised equity share capital from Rs 806.47 Cr to Rs 4,000 Cr for execution of various capital expenditure projects like-

  1. Roha-Veer Part Doubling
  2. Route Electrification of Konkan Railway
  3. Doubling of Traffic Capacity of Konkan Railway
  4. Construction of New Crossing Stations and Additional Loop Lines

The total cost for executing these projects is of the order of around Rs 7,500 crore and the projects are likely to be completed in a phased manner spanning about 5 years.

Futuristic Rail connectivity / Infrastructure project on Konkan route:

  • Work of Doubling of Roha- Veer Section is in progress
  • Electrification work of Konkan Railway is in progress.
  • Jaigarh Digni Rail Link work  is in progress.
  • Work of Multi Modal Logistics Park at Bali station (Goa) to handle domestic & EXIM container traffic is in progress.
  • Construction of freight siding for MRPL Mangalore is in progress.

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