Konkan Railway bags turnaround trophy

Konkan Railway has received the Turnaround Trophy from Board for Reconstruction of Public Sector Enterprises for the posting profits three years in a row.

Konkan Railway project was commenced in 1990 and completed in 1998 at a cost of Rs 3,555 crore, connecting the states of Maharashtra, Karnataka, Goa and Kerala.

The project however suffered from cost and time overruns and due to the heavy financial burdens, the Konkan Railway Corporation was listed as Sick & Loss Making PSU.

However, Konkan Railway emerged out to be a profit-making organization for the first time 2009-10.

Its 760-kilometre line connects Maharashtra, Goa, Karnataka and Kerala - a region of criss-crossing rivers, plunging valleys and mountains.