Date Of Post: 21 Feb, 2018
Mumbai: The Maharashtra government and Indian Railways have signed a MoU to set up a coach manufacturing factory in Latur, it was announced on Tuesday.
- “The MoU is for an investment of Rs 500 crore in the first phase… We have a bigger vision,” said Railway Minister Piyush Goyal at the signing ceremony in the presence of Chief Minister Devendra Fadnavis at the ‘Magnetic Maharashtra: Convergence 2018’.
- The MoU was inked by B. K. Agrawal, Additional Member (PU) Railway Board and Sanjay Sethi, CEO, Maharashtra Industrial Development Corporation.
About The Coach Factory-
- The coach factory will come up on 150 acres of land in the phase-I where EMU & Metro coaches would be manufactured, and thought it would be an export-oriented unit, will cater to domestic requirements.
- The proposed rail coach factory is intended to create an industial ecosystem in this drought-prone region and help boost shift from agriculture to industry and arrest the heavy migration from that region.
- The work on this project will be done on high priority with fast track processing of all approvals, Goyal said.
- On its part, Maharashtra will provide the lands at concessional rates, facilitate rail/road connectivity to the land, provide concessions in local taxes on water, electricity & state GST, and facility speedy clearances of all statutory requirements for the project.