India to privatise train-making
Friday, 31 August 2007
NEW DELHI, Aug 30 (Xinhua): India's state-run railways has decided to privatise train manufacturing in the country, which has one of the world's largest rail networks, the Press Trust of India (PTI) reported yesterday.
"There is a growing need for new and advanced locomotives and coaches. With the sustained economic growth and the resultant demand for rail transport, the requirement of locomotives and coaches has increased manifold."
"There is a considerable gap between the requirement and supply of the rolling stock. So, it has been decided to set up three manufacturing units-one each for diesel locomotive, electric locomotive and coach," it quoted an unnamed official in the railways ministry as saying.
The railways, the official said, would offer 74 per cent equity to private players in all the three proposed 740 million US dollars joint ventures.
"There is a growing need for new and advanced locomotives and coaches. With the sustained economic growth and the resultant demand for rail transport, the requirement of locomotives and coaches has increased manifold."
"There is a considerable gap between the requirement and supply of the rolling stock. So, it has been decided to set up three manufacturing units-one each for diesel locomotive, electric locomotive and coach," it quoted an unnamed official in the railways ministry as saying.
The railways, the official said, would offer 74 per cent equity to private players in all the three proposed 740 million US dollars joint ventures.