Why it is in news?

• The Ministry of Railways has given its in-principle approval for major capacity augmentation of Konkan Railway
• Approximate cost of the expansion would be ₹4,980 crore .
• The Konkan Railway Corporation Limited (KRCL) achieved a net profit of ₹61 crore for 2016-17, and has registered a growth of 69% in the annual turnover over last three years.
• The Ministry has decided to provide more financial support to Konkan Railway.
• On December 16 last year, it had approved an increase in the authorised equity share capital from ₹806.47 crore to ₹4,000 crore. 

Five-year plan

• This will enable the corporation to execute various capital expenditure projects
  • Roha-Veer part doubling
  • route electrification
  • doubling of traffic capacity
  • construction of new crossing stations
  • additional loop lines.
• The projects are likely to be completed in a phased manner over five years.
• Work to construct 10 new railway stations on Konkan Railway routes is also in progress.
• The KRCL covers four States: Maharashtra, Goa, Karnataka and Kerala, over a stretch of 740 km.
• The corporation is also setting up the George Fernandes Institute of Tunnel Technology in Goa and the Ramkrishna Hegde Institute for Skill Development at Udupi in Karnataka.

About Kokan Railway

• The Konkan Railway is a subsidiary zone of the Indian Railways.
•  It is one of the 17 zones of the Indian Railways but without any divisional structure unlike other railways zones in India.
•  It is operated by Konkan Railway Corporation limited, headquartered at CBD Belapur in Navi Mumbai, Maharashtra.