RITES to form JV with SAIL to manufacture wagon
RITES Limited, a public sector undertaking of Railway Ministry, will sign a joint venture agreement Steel Authority of India Limited (SAIL) for setting up a wagon manufacturing factory at Kulti near Asansol in Bardhaman district of West Bengal.
The proposed joint venture Wagon Manufacturing Factory would be equipped to handle 1500 wagons per annum (manufacture of 1200 wagons and rehabilitation of 300 wagons). The factory can manufacture BOXN type wagons including specialized high end wagons. It can also undertake manufacturing of modern Stainless Steel wagons with marginal investment in plant and machinery. The project cost is envisaged to be around Rs85 crore in Phase-I, going upto Rs120 crore in Phase-II.