State Government promises Rs.1460 Crore fund for Rail Coach Factory at Kolar
BANGALORE: The much-delayed railway coach factory project at Srinivasapur taluk in Kolar will be put on fast track with the state government on Tuesday making a commitment to provide the land required for the project within the next two and half months.
Chief Minister Siddaramaiah reviewed the progress of the project here on Tuesday with Large and Medium Industries Minister R V Deshpande, District in-charge Minister K R Ramesh Kumar and officials from various departments and instructed them to complete the land acquisition process within two and a half months. The land should be handed over to the Railways without any delay, he said.
The project was announced in the 2013 Railway budget. The state government has to provide required land for the project free of cost.
The project needs 1,123 acres for which the government has to acquire about 250 acres from farmers and the remaining part comprises of government land, said Ramesh Kumar speaking to reporters after the meeting.
The rail coach factory was estimated to cost Rs.1,460 crore, which is now estimated to have escalated to about Rs.2,000 crore. The state government will have to spend about Rs.250 crore for land acquisition, Kumar said.