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National
Locomotive units to be set up as joint ventures
Special Correspondent
NEW DELHI: The Cabinet on Thursday modified its earlier decision and allowed the setting up of two locomotive factories, in Railway Minister Lalu Prasad’s State Bihar, as joint ventures.
The green-field electric and diesel locomotive factories at Madhepura and Marhowra were earlier scheduled to come up in the public-private-partnership mode.
Home Minister P. Chidambaram said the Railway Ministry would hold an equity of 26 per cent and the international partner would bring in state-of-the art technology.
The short listed competitors include leading locomotive manufacturers Alstom of France, Bombardier and Siemens from Germany for the electric locomotive factory and GE, India and EMD, USA for the diesel locomotive factory.
The bids, at an estimated cost of Rs. 2,000 crore, were expected to be completed soon.
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