The MOU was signed in the Magnetic Maharashtra summit and the project is expected to cost Rs. 600 crore. The first phase will require land area of 150 hectares
The railway will soon be acquiring the land required for the construction of a coach factory in Latur, the state government will be handing over the land within a week. This was announced by the union railway minister Piyush Goyal on Tuesday while a Memorandum Of Understanding (MOU) was signed between the Indian Railways and state government.
The MOU was signed in the Magnetic Maharashtra summit and the project is expected to cost Rs. 600 crore. The first phase will require land area of 150 hectares. The central railway in the release stated that the state government shall provide land on concessional rate, facilitate rail connectivity including land required for it, concession on local taxes on water, electricity and State GST, help in providing road connectivity and facilitate speedy clearances of all statutory requirements.
"The quadrapling of railway investment in Maharashtra is the largest and has not been seen in 70 years, the project for setting a coach factory in Latur was decided on January 31st and within few days the land will be handed over to the railways for construction. This shows the concern for the people in Marathwada and the coaches which will be constructed will not only be supplied for the metro in the country but also internationally," said Piyush Goyal.
"The coach factory project in Latur will provide direct employement to 15,000 people and indirect emplyement will be three times more. The Magnetic Maharashtra summit has been the most beneficary for the Marathwada region," said Chief Minister Devendra Fadnavis.
Latur is one of the most backward areas in Maharashtra, has been proposed so as to push development in the region, which sees heavy migration. The factory is expected to create an industrial ecosystem in the drought-prone region and help the shift from agriculture to industry.
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