Government of Karnataka approves KRCL’s merger with IR

The Government of Karnataka has approved the merger of Konkan Railway Corporation Limited (KRCL) with IR. The state government currently holds 11.62 per cent equity in KRCL, following an earlier investment of Rs 2.7 billion, and is awaiting a proposal from KRCL regarding exit options. Besides, KRCL has directed the government to either invest a sum of Rs 91.58 billion in development projects for the next 15 years or hand over its share to IR.