Piyush Goyal concludes visit to Saudi Arabia
During the visit, Goyal participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII), with representatives from global governments and the industry.
Railway Minister Piyush Goyal on Thursday said the planned setting up of a diesel locomotive factory in cooperation with United States’ General Electric (GE) in Bihar’s Marhaura is “on track”.
“Work on the factory is going on as per the plan and I think it’s on track,” the Minister told media persons here.
The Minister’s remarks came after GE warned against changes to the joint venture.
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Minister of State for Railways Manoj Sinha also said that there is no threat to the GE plant in Bihar and the project is on as per the agreement.
In 2015, GE had won a $2.6 billion contract to supply Indian Railways with 1,000 diesel locomotives.
According to the agreement, GE is to build a manufacturing facility in Bihar, and two maintenance sheds elsewhere in the country, to service the locomotives over 11 years.
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