- The first big ‘Make in India’ projects, worth Rs 40,000 crore, are approved with the Ministry of Railways signing formal agreements with global giants Alstom and GE transport to set up locomotive manufacturing factories in Madhepura and Marhaura in Bihar.
- It has taken almost a decade for the final contracts to be awarded from the day Lalu Yadav announced the two projects as railway minister.
- Ambassadors of US and France, Richard Verma and Francois Richier, were present as representatives of GE and Alstom signed the agreement with railway officials.
- GE Transport, as a joint venture with the railways, will manufacture 1,000 state-of-the-art diesel locos at Marhaura at a basic cost of Rs 14,656 crore in the next 11 years.
- Alstom will manufacture 800 electric locos in the same period at a cost of Rs 19.904 crore. Manufacturing and maintenance cost of both factories will be around Rs 40,000 crore.
Source: Economic Times
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