Railways sign MoU with RINL for axle plant
Indian Railways has signed an MoU with Rashtriya Ispat Nigam Ltd (RINL), a PSU under Ministry of Steel, for setting up a Rail Axle Manufacturing Factory at New Jalpaiguri in West Bengal. The 300 crore project will manufacture and supply rail axels for BOX N wagons and others to meet the growing requirement of Indian Railways.
The plant will be set up on Railway land which will be leased to RINL for 30 years. RINL shall invest 100 per cent equity for this project whereas Ministry of Railways will provide assured off-take of 20,000 axles per annum. RINL will also be permitted to manufacture other products in addition to the rail axles.
The project shall have state-of-art axle forging and machining facilities for manufacturing of rail axles. The axle manufacturing unit is expected to be commissioned and start production within two years.