The Union Cabinet has accorded approval for setting up a new rail coach manufacturing unit at Srinivaspur, in Kolar district of Karnataka.
The project, being developed by South Western Railway, is estimated to cost Rs 1,460.92 crore (excluding cost of land). The factory will have the capacity to manufacture 500 coaches per annum.
Of the total project cost, the Ministry of Railways will finance 50 per cent of the cost and the remaining cost will be sanctioned by the government of Karnataka. The state government will also allocate 1,118.38 acre for the project, free of cost.
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