KCR to register profit this fiscal after wiping out losses:MD

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Panaji, Jun 20 (UNI) The Konkan Railway Corporation Limited (KCRL) is poised to register a maiden profit this fiscal after wiping out losses, even as it opted for maintaining its identity ruling out merger with the Indian Railways.

Disclosing this at a ''meet the press'' programme, organised by the Press Information Bureau here today, the KCRL's Managing Director Anurag Mishra said dedicated service, since its inception a decade ago, had resulted in reducing its losses to Rs 150 crores last year.

''We are confident of generating Rs 500 crores from freight traffic and Rs 250 crore from passenger stream, by the year 2010,'' Mr Mishra added.

''Our freight earnings rose by 90 per cent in just two months, in the current fiscal and by Rs 32 crores in May alone,'' Mr Mishra said.

''These are the highest earnings ever of the Konkan Railway and an improvement of 94 per cent over the corresponding period last year.

The growth in successive increase in freight earnings since 2005-06 is due to astute management decisions and marketing strategies,'' Mr Mishra claimed.

The corporation had convinced the Indian Railways against the proposed merger, after 15 years of service and wiping out debt liability of Rs 6000 crores, as it would not have any debt liability benefit, he said.

Meanwhile, the KCRL would shortly open the Global Expression of Interest, floated recently to select agencies to identify a business partner for commercial optimisation of its ''Sky Bus Technology'', he observed.

At the same time, it was planning to enter into a memorandum of understanding with the Research and Design Standards Organisation (RDSO) soon, for securing safety certification for the unique sky bus project, Mr Mishra said.

The Corporation had so far spent Rs 50 crores for the sky bus experimental project at its Margao railway junction in Goa.

Another turn key project of building a bridge at Chenab as part of laying Katra-Laole section in Jammu and Kashmir, considered the highest in the world, was in progress, he said.

UNI BM SR AE VC1940

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