Brief Profile:-

Ministry of Railways under National Rail Vikas Yojana has embarked upon strengthening of rail connectivity to various ports. Recent developments in ports in Gandhidham area have established need for additional freight corridor to northern hinterland. Accordingly, Ministry of Railways(MoR) decided to convert existing meter gauge line between Gandhidham and Palanpur (301Kms). After Rail Vikas Nigam Limited(RVNL), a PSU under Ministry of Railways came into being, this project was transferred to RVNL for execution. RVNL set up a Special Purpose Vehicle for gauge conversion of Gandhidham–Palanpur and Kutch Railway Company (KRC) was formed with equity contribution from RVNL, Kandla Port Trust(KPT), Mundra Port & SEZ Limited(MPSEZ) and Govt. of Gujarat(GoG) to under take gauge conversion of Gandhidham-Palanpur meter gauge of 301 Kms. The Shareholders have contributed to the share capital of Rs.200 Crores to form KRC as following:-

Sl. No.	Shareholders	Contribution share (in %)	Contribution as Equity by Shareholders (Rs. in crores)
1	RVNL	50 %	100 Cr.
2	KPT	26 %	52 Cr.
3	MPSEZ	20 %	40 Cr.
4	GOG	4 %	8 Cr.
	Total	100%	200 Cr.

• KRC was incorporated on 22^nd January'2004 under Companies Act, 1956. According to Memorandum of Association of KRC the Company shall finance, construct, operate, maintain and manage railway project and facilitate in particular the gauge conversion of Gandhidham - Palanpur. KRC executed Rs.500 cr project through equity(Rs.200 cr) received from shareholders and debt (Rs.300 cr) obtained from Banks.
  
  
• Under a concession agreement signed on 8^th November 2005, Ministry of Railways (MoR) had leased all the assets including land, buildings, bridges, etc. on the above line to KRC for a period of 32 years and authorized KRC to finance, construct, operate, maintain and manage the Palanpur - Gandhidham section.
  
  
• KRC is carring out the operations and maintenance of the rail line through Western Railway (WR), as their nominated operator.

KRC Man-Power :-