Railway Minister Suresh Prabhu today laid foundation stone for rolling stock component factory at Lote in Ratnagiri district and said it will provide impetus to the overall economic development of the Konkan region.
"Rolling stock component factory will provide impetus to the overall economic development of the Konkan region and the factory will not only generate employment directly but also lead to formation of vendors development," Prabhu was quoted as saying in a release issued by Central Railway.
He also announced that with the cooperation of the state government similar initiatives for development will also be taken up in Vidarbha, Marathwada and Western Maharashtra.
"These development plans are gaining momentum due to the support and dynamic leadership of the dynamic Prime Minister Narendra Modi," said the Minister.
Union Heavy Industries Minister Anant Geete, Shiv Sena MP Vinayak Raut, Member of Rolling Stock in Railway Board Ravindra Gupta, General Manager of Central Railway D K Sharma, CMD of Konkan Railway Sanjay Gupta and others were present on the occasion.
"The unit, to be set up at Lote Parshuram near Ratnagiri, would come up at a cost of Rs 297.28 crores," CR had earlier said.
For the project, 50 acres land has been acquired from the MIDC in Lote Parshuram area in Ratnagiri district.
The centralised Railway Rolling Stock Components factory can discharge the works of overhaul and rehabilitation of safety sub-assemblies of railway rolling stock.
"Dedicated overhaul equipment and rehabilitation lines coupled with dedicated workers will ensure consistent and world class quality at low cost. This factory will meet the needs of not only Central Railway but also the adjoining railways like Konkan Railway Corporation, Western Railway, South Central Railway, South Western Railway," it added.
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