Govt. clears Rs. 1,460-cr rail project

In a recent development, the state government in Karnataka has cleared a long-pending rail coach factory project to be set-up in Kolar area in Karnataka at an investment of Rs. 1,460cr. In this connection, the Karnataka government has promised funds and land for the mega project. The rail ministry cleared the project four years ago but in a recent move, the state government has earmarked funds in the state budget to acquire 1,120 acres of land for the purpose and that the state will bear half of the project cost besides providing the land free of cost. It may be recalled that this is the fourth rail coach factory in the country mooted by the railways after Chennai, Kapurthala, and Rae Bareli. The rail coach factory and the auxiliary units that would come up around the factory will open up huge, both direct and indirect job generation opportunities to the local youth, said an official spokesperson.