The Konkan Railway Corporation Ltd (KRCL) has decided to raise finances for its major infrastructure funds through increased equity shares and market borrowings.
“The total cost for executing these projects is of the order of around Rs.7,500 crore, and are likely to be completed in a phased manner spanning about five years. Conversion of many halt stations into a crossing station and patch doubling will improve the operations which will ease the inconvenience and hardships being faced by the people in and around Konkan region,” says the press note issued by Chief Public Relations Officer, KRCL, L K Verma.
“To boost the development of Konkan region, Ministry of Railways (MoR) has taken a decision to increase Authorised Equity Share Capital for providing more financial support to Konkan Railway,” says a press note issued by the KRCL.
Following the approval granted by the MoR for increase in Authorized Equity Share Capital from Rs 806.47 crore to Rs 4,000 crore, KRC shareholders unanimously passed a special resolution to that effect for execution of various capital expenditure projects like Roha-Veer part doubling, route electrification of Konkan Railway, doubling of traffic capacity of Konkan Railway, and construction of new crossing stations and additional loop lines, the note says.