Railways attracts $60 million FDI from September 2015 to February 2016

NEW DELHI: The Foreign Direct Investment (

FDI

) in the

railways

between September 2015 and February 2016 stood at $59.81 million, the Lok Sabha was informed on Wednesday.

As per data compiled by Department of Industrial Policy and Promotion (DIPP), the quantum of FDI during September 2015 to February 2016 is $59.81 million, minister of state for Railway Manoj Sinha told the Lok Sabha in a written reply.

He said agreements have been signed between Railways and Joint Venture Company for setting up of two locomotive factories at Madhepura (Electric) and Marhowra (Diesel) in Bihar costing about Rs 2600 crore entailing FDI inflow in rolling stock manufacturing.

While precise amount of FDI further expected can not be predicted or quantified, potential projects involving FDI include Dankuni and Kancharapara rolling stock factories and annuity projects of third line between Wardha-Nagpur, Kazipet-Vijaywada and Bhadrak-Nargundi.