: Railways calls for domestic manufacturing of high speed wheels #FinanceIndia #StockMarketNEWS Railways calls for domestic manufacturing of high speed wheels New Delhi, Sept 10 (KNN) The Ministry

@StockMarketNEWS Sun 11 Sep, 2022

Posted in: #FinanceIndia #StockMarketNEWS

Railways calls for domestic manufacturing of high speed wheels #FinanceIndia #StockMarketNEWS
Railways calls for domestic manufacturing of high speed wheels New Delhi, Sept 10 (KNN) The Ministry of Railways has issued a tender for manufacturing high speed wheels in India to meet domestic demand and exports.

It marks Railways’ efforts to boost the initiative of ‘Make In India’.

Railways Minister Ashwini Vaishnaw told the media on Friday that the Ministry has issued a tender for manufacturing high speed wheels in India to cater to domestic demand and also begin their exports.

Similar tender for manufacture and exports of high strength tracks will be out in a month’s time, reported The Hindu.

The Ministry has decided that high speed wheels and high strength rail are two major items which need to be produced domestically as per a detailed study.

He said that the ministry is working towards not only catering to domestic demand but also focusing to become exporters from importers.

As per the tender issued, a manufacturing plant with a capacity to produce at least 80,000 such wheels will be set up within 18 months.

The Railways will assure procurement of 80,000 wheels at an estimated cost of about Rs 600 crore per annum for 20 years. (KNN Bureau)