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LIC subscribes to KRCL bonds worth Rs 250 cr

LIC subscribes to KRCL bonds worth Rs 250 cr

The Life Insurance Corporation of India (LIC) has subscribed to Konkan Railway Corporation Limited (KRCL) bonds of Rs 250 crore to enable its some of the key projects.


Railway Minister Suresh Prabhu had on 25th Foundation Day celebration of KRCL on October 15, 2015, announced the projects, which included electrification of Konkan Railway route, construction of new halt stations and passenger terminals, doubling of Konkan Railway route among others.


The Government of India PSU has drawn an ambitious plan to take up projects for betterment of the region, a press release issued by KRCL here said.


CMD of KRCL, Sanjay Gupta said the financial support received from LIC will go a long way towards assisting the development of capacity augmentation and passenger-friendly projects.


“The seminal role of LIC as a crucial partner in the development of Railways and KRCL under the leadership of the Railways minister cannot be overemphasised,” it said.


KRCL is entrusted with construction and operation of Railway line along the west coast from Roha (Maharashtra) to Thokur (Karnataka).