The Indian Railways has floated a tender to construct a wheel-making plant with an annual capacity of 80,000 units, Railway Minister Ashwini Vaishnaw said on Friday.
This is the first time the Indian Railways has sought to partner with private firms to manufacture wheels, Vaishnaw said. The move is also part of the transporter's blueprint to become an exporter of rail wheels.
Indian Railways needs two lakh wheels per year. According to the plan, Steel Authority of India Ltd. will provide one lakh wheels and the rest will come from the new 'Make in India' plant. The tender will be awarded on the condition that the plant will export the wheels to Europe.
The plant has to be set up within 18 months, Vaishnaw said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
