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Railway awards worth Rs. 40,000 Cr contracts to GE and Alstom

  • Indian Railways has awarded contracts to General Electric Co. (GE) and Alstom to set up diesel and electric locomotive factories in Bihar at a cost of about Rs.40,000 crore.
  • The award of the contracts, will mark the first big foreign direct investment in the railway sector.
  • The projects, which will be closely monitored by the Prime Minister’s office, will involve manufacturing 1,000 diesel locomotives and 800 electric locomotives over the next 10 years and are together worth about Rs.40,000 crore.
  • Two locomotive sheds will be built in Gandhidham (Gujarat) and Bhatinda (Punjab) for maintenance of the modern diesel locomotives.

Source: Mint

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