Railways to invest 652 cr to modernise workshops

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New Delhi, March 27: As part of its modernization drive, Railways plans to invest Rs 652 crore for procurement of machines and upgradation of workshops in the current year.

The investment will help in the modernisation of the railways, Railway Member (Mechanical) R K Rao said in New Dekhi on Thursday.

"The sprawling rail network has a definite edge in providing the most critical input to the Economy in the form of transportation. To retain this edge and improve further, railways have a massive investment plan of Rs 2,50,000 crores for the 11th Five-Year Plan which means Rs 50,000 crores a year," said Rao.

He was speaking at a global seminar on "Workshop Modernisation and New Technologies in Machine Tools." Admitting the utilization of funds effectively to upgrade production infrastructure within a time frame was a daunting task, Rao said the seminar will provide a common platform to both the users and industry.

While users will get the opportunity to acquaint them with the latest globally available technology, the industry will get to know the requirement of the railway and offer tailor-made solutions wherever feasible.