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The Ministry of Railways and Government of Karnataka have signed a memorandum of understanding for setting up of rail coach factory in Kolar.
The project is planned on 1,100 acres of land to be provided by State government free of cost. The cost of setting up of the new rail coach factory is estimated to be about Rs 1,460 crore.
Both Railways and the State government have committed to share the cost of the project. Project implementation will be taken up by the Railway’s Rail Coach Factory or an entity nominated.
The new rail coach factory, on its inception, is expected to serve and meet the increasing demand of passenger coaches on Indian Railways and also will foster the economic development of the State.
The MoU was signed by K. Swaminathan, Advisor/Mechanical Engineering (Project), Railway Board, representing the Railways and by Vandita Sharma, Principal Secretary, Infrastructure Development, in the presence of Chief Minister Siddaramaiah, Minister of State for Micro, Small and Medium Enterprises KH Muniyappa, Minister of State for Railways K Surya Prakash Reddy, Karnataka Minister for Infrastructure Development Roshan Baig, Karnataka Chief Secretary Kaushik Mukherjee and Railway Board Member (Mechanical) Alok Johri.
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