3 global firms bid for setting up loco factory

New Delhi, August 31

Marking first major FDI offer in the Railways, three global companies have submitted financial bids for setting up of a modern electrical locomotive factory in Madhepura in Bihar at a  cost of nearly Rs 1300 crore.

Siemens, Alstom and Bombardier have submitted price bids for setting up the factory in a joint venture model to manufacture 80 state-of-the-art locos per year at an estimated cost of Rs 1296 crore, said a senior Railway Ministry official.

The bids will be evaluated by the tendering committee and the lowest bidder will be announced by September-end. — PTI