Blog Entry# 2349993
Posted: Jul 12 2017 (10:00)
Last Response: Jul 12 2017 (10:00)
New Facilities/TechnologyKR/Konkan -Jul 12 2017 (09:50) Goa government to contribute Rs 18 crore towards Konkan Railway project
a2z~ 91 news posts
Panaji: Goa government, which owns a 6% stake in Konkan Railway Corporation Limited (KRCL), has reportedly agreed to contribute an amount of Rs 18.60 crore to enable the corporation to take up track doubling and expansion in Goa. The funds will be contributed through an issue of shares by Konkan Railway to the state government in proportion to its 6% stake.
Following the approval from the Union ministry of railways, KRCL decided to increase its authorized equity share capital in order to raise funds for various capital expenditure projects, including doubling of tracks, electrification and 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.
A good move, with higher equity base, KR shall be in a position to get funds for the doubling and electrification projects. For betterment of KR and improvement of Rly services to people especially of west coast & Karnataka, following should be helpful:
(1) As originally envisaged before commencement of KR, Mangalore should be transferred to KR shall ensure more paxs trains & revenue for KR. This is important as currently unlike rest of IR, Pax revenues are main stay of KR. Manglore port in KR shall give much needed freight loading point & more revenues.
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