Indian Railways ink Rs 40000 cr deal of locomotive plants with GE, Alstom in Bihar
Indian Railways has signed 40,000 crore rupees contracts with General Electrics (GE) and Alstom to set up two locomotive plants in Bihar.
Under this deal, first venture the electric locomotive factory would be set up at Madhepura city and diesel locomotive would be set up at Marhowrah district of the state.
It is the first major manufacturing investment in Bihar, boosting manufacturing and contributing to the overall economic growth of state along with creation of new employment opportunities in the state under flagship Make In India initiative.
This is also the first big Foreign Direct Investment (FDI) in the Indian railway sector after government had relaxed FDI norms to 100 per cent in the railway sector in 2014.
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Month: Current Affairs - December, 2015