Coal India to invest Rs 500 crore in JV with railways to procure rail wagons

Coal India will invest about Rs 500 crore in its joint venture with Indian Railways to procure rail wagons for transporting coal. Rakes will allow eight-10 tonnes more per wagon.

By Sarita C Singh, ET Bureau | Updated: Dec 23, 2015, 05.31 PM IST

NEW DELHI: Coal India will invest about Rs 500 crore in its joint venture with Indian Railways to procure rail wagons for transporting coal.

Indian Railways and CIL signed a memorandum of understanding on Wednesday for the procurement of 2,000 high-capacity wagons, translating into 33 rakes.

Rakes will allow loading of an additional 8-10 tonnes per wagon as compared to conventional wagons.

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