In September 2000, the Government of Karnataka (GoK) and Ministry of Railways (MoR)
signed an MoU to set up a Joint Venture Company called “ Rail Infrastructure
Development Company ( Karnataka) Limited – K-RIDE”.
Objective : To expedite development and implementation of 4 identified Railway Projects
in Karnataka viz:
1) Hubli – Ankola New Line
2) Hospet – Guntakal Doubling
3) Sholapur – Gadag Gauge Conversion 4) Hassan – Mangalore Gauge Conversion
Nov’ 20, 2000 : Registered as a Public Limited Company under Companies Act,1956.
Oct’ 22, 2001 : Government Order issued vide IDD Letter No. 10 NSW 2001.
This SPV with financial participation by the MoR, GoK, FIs/Banks, etc. was set up to
meet the objective of funding certain identified projects in Karnataka, particularly those
with potential for attracting private investment.
Nov’2002 : Shareholders’ Agreement Signed.
Rs. 5.00 Crores
Share Capital Issued
Rs. 5.00 Lakhs
Share Application Money
Rs. 4.95 Crores
Pattern of Contribution
Rs. 1.3 Crores
Rs. 1.3 Crores
Rs. 2.4 Crores
Investment Done : Rs. 2.00 Crore in HMRDC
Board of Directors
Dr. Rajkumar Khatri, IAS
Secretary to GoK, IDD & Chairman/K-RIDE
Mr. Niraj Kumar
Executive Director/ Perspective Planning,
Mr. B.N. Mohapatra
Executive Director/ Finance – Expenditure - 1,
Railway Board, MoR
Mr. Vinay Singh, IRSE
Executive Director/ Works, Railway Board,
Mr. Randeep D
Deputy Secretary to GoK, FD (B & R)
Mr. Anil B. Shenoy
As per MOU, K-RIDE was to fund all the projects under its own name,
mobilize equity from strategic investors and debt funds from financial
As per Government Order role of K-RIDE was changed from an
implementing agency of the projects...