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South Bengal To Get Wagon Unit SoonBy siddharth22, Section Development
A state of the art wagon-manufacturing unit will be set up in southern Bengal shortly.
A memorandum of agreement (MOA) to this effect was signed between officials representing Texmaco Limited, a diversified Indian engineering conglomerate (a KK Birla Group company), and the United Group Limited, a leading Australian infrastructure and industrial services company, at Writers' Building today. Chief minister Buddhadeb Bhattacharjee was present when the MOA was signed between the two organisations. The facility, which will be a 50:50 joint venture between the two companies, will require 100 acres of land. Officials representing the two companies said that the investment would be "massive". However, a clearer picture will emerge only after a feasibility study is completed in the next three months. Industry sources, however, say that around Rs 200 crore may be invested initially and about 2,000 people are likely to get employement.
"The government has come up with several options. Even though the site has not been finalised yet, the location should be connected by rail and there should be a port nearby.
This would enable us to explore export options," said Texmaco Limited president and CEO Ramesh Maheshwari. With the venture becoming a reality, Texmaco, which had a turnover of around Rs 600 crore last year, intends to double it this year. "The proposed joint venture between our companies will cover the design, manufacture and supply of wagons, locomotive bogies and components and encompass passenger rolling stock as well. Additionally, both parties are keen to address related opportunities for rolling stock maintenance and refurbishment," a joint press statement said, quoting Maheshwari. Source:The Indian Express,14-11-07
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