2020 India Network
Railway plants in Bihar to boost manufacturing, jobs: FM Arun Jaitley
Marking the first big FDI in the railway sector, the Indian Railways today signed Rs 40,000-crore contracts with GE and Alstom to set up two locomotive plants in Bihar with a view to boosting manufacturing and employment in the state.
Terming it as the “first major” manufacturing investment in Bihar, Finance Minister Arun Jaitley said setting up of diesel and electric locomotive factories will benefit farmers.
“It is a major manufacturing investment in India… And when GE and Alstom start investing in Bihar, I think it’s good days for ‘Make in India’. India is going to benefit, the Railways is going to benefit, Bihar is going to benefit,” he said.He was speaking at the formal contract signing ceremony for the two Rs 40,000-crore modern locomotive joint venture factory projects. Read More…