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The Union Cabinet on Thursday approved the setting up of a new rail coach manufacturing unit at Palakkad in Kerala to manufacture 400 coaches annually at an estimated cost of Rs 550 crore (excluding the cost of land).
This is to be a joint venture in which Railways shall contribute 26 per cent of the equity, an official statement issued said.
The Railways will purchase about 239 acres of land from the State Government for setting up of the new coach building plant. The setting up of the plant will help Indian Railways in ensuring timely availability of passenger coaches to meet the increasing demands of passenger transportation. It shall also ensure induction of aluminium coaches on Indian Railways. The work on this project will commence during 2012-13 and will be completed within a period of 36 months.
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