Konkan Railway will sign an MoU with Shapoorji Pallonji & Co on August 14 for construction of new railway line between Chiplun and Karad railway stations.
The pact will be signed in the presence of Railway Minister Suresh Prabhu and Maharashtra Chief Minister Devendra Fadnavis, Konkan Railway Chairman and Managing Director, Sanjay Gupta said here today.
The project was conceived jointly by Railway Ministry and Government of Maharashtra to ensure better connectivity for the coastal Konkan region.
Gupta said the upcoming project is finally seeing light of the day with the identification of Shapoorji Pallonji Corporation Pvt Ltd (SPCPL) as the Public Private Partner with KRCL (Konkan Railway Corporation Limited).
Outlining the challenges, the recently-appointed full time CMD said, “We have enormous potential to expand ourselves and we are doing that. We are on the path of our capacity building and I hope that the biggest challenge is to arrange the financing modalities and funds which I am working hard to achieve to execute the various projects.
“In fiscal ended recently, we earned profit of Rs 129 crore. Our effort would be to maintain and raise the bar from this level,” he said.