New Delhi: As part of its modernization drive, Railways plans to invest Rs652 crore for procurement of machines and upgradation of workshops in the current year.
The investment will help in the modernization of the railways, Railway Member (Mechanical) R K Rao said on Thursday.
“The sprawling rail network has a definite edge in providing the most critical input to the economy in the form of transportation. To retain this edge and improve further, railways have a massive investment plan of Rs2,50,000 crores for the 11th Five-Year Plan which means Rs50,000 crores a year,” said Rao.
He was speaking at a global seminar on “Workshop Modernization and New Technologies in Machine Tools.”
Admitting the utilization of funds effectively to upgrade production infrastructure within a time frame was a daunting task, Rao said the seminar will provide a common platform to both the users and industry.
While users will get the opportunity to acquaint them with the latest globally available technology, the industry will get to know the requirement of the railway and offer tailor-made solutions wherever feasible.
Indian Railway is one one of the single biggest transport organization in the world having several industrial units under its umbrella. It has more than 50 independent mechanical engineering workshops and production units which undertake manufacturing overhaul and repair activities for locomotives, coaches, wagons and other railway assets.