Indian Railways has signed a memorandum of understanding (MoU) with Rastriya Ispat Nigam Limited (RINL) for setting up a forged wheel factory at Rae Bareli, Uttar Pradesh state.
The MoU for the forged wheel factory was signed between Keshav Chandra, member mechanical, Railway Board, and A P Choudhary, chairman and managing director, RINL.
“The factory will be set up by RINL with an investment of $200 million to supply forged wheels to the Indian Railways will have a capacity of producing 1,00,000 wheels every year,” Ministry of Railways said in a statement.
“The proposed partnership would provide the much needed impetus to investment in railway infrastructure and increase evacuation capacities from mines, plants and ports and freight traffic for the Railways,” Indian Railway Minister, Pawan Kumar Bansal said.
Speaking about the setting up of the forged wheel factory, Indian Steel Minister said: “The unit will be a specialised unit catering to the need for special grade wheels for high speed trains.
“The setting up of the factory will considerably increase the industrial activity in the region and generate employment opportunities for the youth of the state.”
The factory – the biggest such plant in India – will be completed within a schedule of 36 months and will create 500 to 600 jobs.
