Indian Railways signed this year two MoUs signifying new innovative financial funding for development of infrastructure projects in the country.
Railways signed an MoU with NMDC Ltd., a navratan Pubic Undertaking Sector under the administrative control of the Ministry of Steel for doubling the 150 kilometer Laddalpur to Kirandul section of the Kottavalsa to Kirindul line of the east cost Railway to augment the evacuation capacity of NMDC to meet the increased demand for iron ore of the Indian steel industry.
Indian Railways also signed an MoU with another PSU of Ministry of Steel namely, RINL, for setting up a forged wheel factory at Rae Barely in Uttar Pradesh. This factory, the biggest such plant in India will manufacture one lakh wheels every year.
