Maharashtra govt approves Konkan Railway Project

The state government has approved the Rs900crore Konkan railway project, which will connect to all the important ports in Maharashtra.

The state government will invest Rs450 crore and the remaining Rs450 crore will be allocated by the Centre.

The governemnt also working on an alternative means to raise funds if the Centre fails to provide the 50% allocations within the next three years.

The state government will rope in private companies associated with the port development authority to raise the equity to fund the project. However, the Centre has begun the process of conducting survey to outline the details and feasibility of the project.