Bihar gets a big boost as IR signs Rs 40000 crore pacts with Alstom and GE
The deal is set to be the biggest in terms of direct foreign investment in the Indian Railways. The factories will be set up in the state's Madhepura district (Alstom) and Marhowra town (GE) of Bihar.
The 10 year long project was hailed by Union Railway Minister Suresh Prabhu as a 'Great make In India' concept.
Prabhu was quoted by Financial Express as saying, "The setting up of both these state of the art manufacturing facilities will create an eco-system of its own with spin-off benefits, which will not only create jobs in the manufacturing facilities but will also help in creation of jobs in ancillary units.
The factories are expected to manufacture around 1800 locomotives in the 10-year period.
Union Finance Minister, Arun Jaitley said, "I am very happy to see the progress of Indian railways under the leadership of the Railway Minister, this is the result of structured game plan followed the Ministry of Railways to modernize the Indian Railways and its infrastructure."
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