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MoU for Rs 600 crore rail factory at Sonipat soon

| Friday | 16th June, 2017

CHANDIGARH: A rail coach refurbishing and rehabilitation factory would be set up in the industrial estate of Barhi in Sonipat district at a cost of around Rs 600 crore. A memorandum of understanding in this regard would soon be signed between Union ministry of railways and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). Earlier, during the 'Happening Haryana Global Investors' Summit' in 2016, the ministry had announced that such a unit would be set up in Sonipat district.The project, recently approved by the chief minister Manohar Lal Khattar , would provide job opportunities to hundreds of youth, besides kicking off economic development through ancillary projects.Disclosing this, HSIIDC managing director Raja Sekhar Vundru said the corporation had agreed in-principle to allot 161.48 acres of land on leasehold basis to the railways ministry for setting up the project. "As a follow-up to the announcement, a proposal has been received from the Ministry of Railways for setting up the factory," Vundru said.The project would refurbish 500 to 700 coaches every year. The component of manufacturing would be added to the project subsequently. A senior-level team from the ministry of railways has already met Haryana government officials to discuss the project in detail.The HSIIDC will be allotting land on long-term lease basis with lease rental to be fixed at the rate of Rs. 1,000 per acre per year. The lease period would initially be for 30 years which can be extended by another 30 years based on mutual consent. The project is expected to provide stimulus to lot of ancillary units, small and medium enterprises.In case the ministry of railways or project entity fails to take concrete steps on ground for commencement of the project within two years of allotment of land, it would be liable for payment of penalty for the default period at the rate of Rs. 500 per month per acre, Vundru said.

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