The Ministry of Railways and Karnataka Government today signed an MoU for setting up a Rail Coach Factory at Kolar at a cost of Rs 1,460 crore to meet the increasing demand of passenger coaches and foster economic development in the state.
The project would come up on 1100 acres of land to be provided by the state free of cost, MSME Minister K H Muniyappa told reporters here.
The Railway ministry and the state are would share the cost of the project for expediting the work on building the coach factory, he said.
The MoU was signed in the presence of Minister of State for Micro, Small and Medium Enterprises and Chief Minister Siddarmaiah.
