Green signal for two big-ticket FDI proposals in Railways.

In line with Prime Minister Narendra Modi's 'Make in India' campaign, Railway Minister Suresh Prabhu has finally given green signal to the two much awaited big-ticket FDI proposals for setting up diesel and electric locomotive plants in Bihar at a cost of Rs. 2,400 crore.

Ending the suspense over the fate of Madhepura electric locomotive plant and Marhora diesel locomotive plant, Railways has finalised the financial bidding for the high-value joint venture projects after considerable delays, re-thinking and prolonged due diligence amid repeated revision of bidding documents.

The Request for Proposals (RFP) containing financial bidding documents for both the plants are ready and the shortlisted bidders have been intimated the same, said a senior Railway Ministry official.

While four global firms -- Alstom, Siemens, GE and Bombardier -- have been shortlisted for the proposed electric locomotive factory at Madhepura, two multinationals -- GE and EMD - are vying to bag the diesel locomotive plant at Marhora.

The estimated cost of the factories is about Rs. 1,200 crore each. The financial bidding will be opened on August 31 and there will be two pre-bid meetings held in between, the official said.


ET