Railways clinches SAIL deal for wagon factory

The Rail India Technical and Economic Services, a subsidiary of Indian Railways, and Steel Authority of India Limited on Tuesday signed a joint venture agreement to set up a multi-crore-rupee wagon manufacturing factory in West Bengal.

The Rail India Technical and Economic Services, a subsidiary of Indian Railways, and Steel Authority of India Limited on Tuesday signed a joint venture agreement to set up a multi-crore-rupee wagon manufacturing factory in West Bengal.

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The deal was clinched after the two public sector units managed to convince Steel Minister Virbhadra Singh on the utility of the project at Kulti in Bardhaman district.

Singh had earlier asked what SAIL would gain from the project by providing land to the railways. On Tuesday, he said: “The joint venture between the two PSUs is mutually beneficial. It will lead to many more such collaborations between them.”

Apart from Singh, Railway Board chairman Vivek Sahai and other senior officials from both the ministries were present on the occasion.