Union Cabinet gave approval for setting up a new rail coach Factory at Kolar, Karnataka
New Rail Coach Manufacturing Unit at Kolar, Karnataka
The
Union Cabinet today gave its approval for setting up a new rail coach
manufacturing unit at Kolar, Karnataka to manufacture 500 coaches per annum at
an estimated cost of Rs 1460.92 cr.(excluding cost of land) with active
participation of State Government. The Ministry of Railways will finance 50
percent of the cost and the Government of Karnataka shall provide the required
land, free of cost as well as meet the remaining 50 percent of the project
completion cost with escalation.
Land to the extent of about 1118.38 acres shall be provided free of cost by the Government of Karnataka.The proposed plant shall help Indian Railways in ensuring timely availability of passenger coaches to meet the increasing demands of passenger transportation.
Courtesy : PIB