Panaji: Prime Minister Narendra Modi on Monday dedicated to the nation the electrified route network of Konkan Railway Corporation Limited in virtual mode from Bengaluru.
Union minister of State for Tourism Shripad Naik, State Public Works Department Minister Nilesh Cabral and others were present for the function at Margao Railway station.
The Prime Minister inaugurated the electrified route. A cargo train was the first one to run on the electrified route from Margao Railway Station.
A senior KRCL official said that on the Southern end of KRCL jurisdiction, Railway Electrification of Mangalore- Shoranur section is completed. “On the Northern end, Railway Electrification of Panvel-Pen-Roha section, a short stretch of 75.86 KM, is also completed. Further, Railway Electrification of Hospet-Hubli-Vasco-da-Gama section of South Western Railway is under progress,” he said.
The official said that in such a scenario, Railway Electrification of KRCL portion of the route had become necessary for seamless train operations over the entire west coast connecting North, Central and Southern India on electric traction.
He said that Konkan Railway passes through dense forest cover of Sahayadri hills along the Western Coastal Strip. “This region is endowed with rich natural beauty and mineral resources. Electrification of Konkan Railway route will not only prove to be a major step in conserving its rich natural heritage and flora and fauna of the region but also help in its economic development,” he added.
The official said that the electrification project was taken up with a cost of Rs 1100 Cr on 20 per cent Equity and 80 per cent Debt.
“The Equity portion of Rs 200 Cr was funded promptly by the shareholders of KRCL i.e Ministry of Railways, Govt. of Maharashtra, Goa, Karnataka and Kerala. The remaining amount of Rs 900 Cr was arranged through Long Term Rupee loan from a consortium of lenders consisting of State Bank of India and EXIM Bank,” he said.
