8 April 2017

Transforming Konkan Railways Into A Fast and Efficient Railway

The alignment of Konkan Railway runs through Western Ghats geographically challenging terrain. Konkan Railway is engaged in train operations between ROHA – MANGALORE for a stretch of 740  kms since 1998. Konkan Railway  has made significant strides in its 26 years of existence.

The Hon'ble Minister for Railways Shri Suresh Prabhu, has understood where the challenge lies before the Corporation and how to address the same. He took a lead and  taken a series of concrete steps to solve these pressing issues once and for all.
Corporation took various initiatives under able guidance of Hon’ble Minister for the upliftment of Konkan Region by way of providing more and more passenger amenities over Konkan Railway which has facilitated in making the journey more comfortable.  Amongst the measures initiated by the Hon’ble Minister includes capacity enhancement of KRCL line, route electrification, construction of additional eleven new stations etc.  to name a few.
To boost the development of Konkan region on its Highmark and provide all kind of support to the people of Konkan in general, Hon’ble Minister for Railways has taken a decision to Increase  Authorised Equity Share Capital for providing more financial support to Konkan Railway.

Increase Authorised Equity Share Capital:
On 16.12.2016 Ministry of Railway (MoR) has accorded Approval for increase of Authorised Equity Share Capital from ` 806.47 crore to ` 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 ` 806.47 Cr to ` 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)    Chiplun – Karad Rail Connectivity Link and
5)    Construction of Additional Loop Lines and New Crossing Stations.

The total cost for executing these projects is of the order of around   ` 10,000 crore and the projects are likely to be completed in a phased manner spanning about 5 years. Conversion of many halt stations into a crossing station and patch doubling will improve the operations and throughput which will ease the inconvenience and hardships being faced by the people in and around Konkan region and make their journey comfortable on Konkan Railway.
This will go a long way not only towards benefiting the traveling passengers at large, but also contribute significantly to the socio-economic development of the entire Konkan region, which would in turn, lead towards the growth of the nation.
Accordingly, all Shareholders will make equity infusion through Rights Issue of `3050 Cr in tranches for these infrastructure projects. Remaining cost will be finance through market borrowings.
Hon'ble Minister for Railways is seeking to radically transform - right from travel experience to boost the development pace on Konkan Railway to meet the expectations of the people of the Konkan Region.
Here it is worth to mention, under the able guidance of Hon'ble Minister for Railways Shri Suresh Prabhu, Konkan Railway has received “Excellent” rating for execution of Memorandum of Understanding signed between Konkan Railway and Ministry of Railways for the financial year 2015 – 16.
Konkan Railway always believes in providing better passenger amenities to its  passengers for their comfortable and safe journey.    
With these initiatives of Hon'ble Minister, Konkan Railway is  gearing for a massive transformation and it is looking for sustainable development.