The Indian Railways has decided to manufacture Metro coaches and is setting up a factory in Latur, for the same. However, there’s something different about this Rs 600 crore project—if things go as planned, the coaches will be exported to other nations as well!
Additionally, in the future, the Railways plan to increase the investment amount to Rs 2,000 crore, aiming to bring prosperity to the financially backward regions of Latur, Osmanabad and Nanded in Marathwada and generate 15,000 jobs and accelerate the commercial development of the area.
According to Union Railway Minister Piyush Goel, the plan is being implemented, and the authorities will acquire the land needed for constructing the coach factory in Latur from the state authorities, next week. The minister signed the MOU for the same, during the valedictory session of the Magnetic Maharashtra Convergence Summit 2018, held at Mumbai’s Bandra Kurla Complex (BKC) on Tuesday.
The initiative has been divided into phases, with the first phase requiring an area of 150 hectares. According to the release, the State will provide the land at a concessional rate, and help in rail connectivity. Water-tax, electricity and GST concessions will also be provided, as will road connectivity and speedy clearances of statutory requirements.
According to the Railway Minister, the railway investment in Maharashtra has quadrupled—a phenomenon not seen in 70 years.
Maharashtra Chief Minister Devendra Fadnavis was optimistic as well, claiming that this is the first instance of such an investment in history, for the region of Marathwada. He said the results would change the fortunes of Latur, as well as Osmanabad and Beed, the neighbouring districts.
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If the Railway’s ambitious plan of a new coach factory, and the 15000 jobs it will generate, is anything to go by, it seems the national transporter is ramping up industrialisation efforts, in an attempt to spread its vast wings further.