Why in news
The Marathwada Rail Coach Factory in Latur is being developed under a joint venture (JV) between India's Rail Vikas Nigam and Russia's Transmashholding (TMH), known as Kinet.
TMH plans to develop three depots, including the Latur plant, for the indigenous manufacturing of train sets.
The JV aims to build an industrial hub in India, supplying to the Indian market and exporting to other BRICS countries.
Total investment required exceeds $150 million, with revenue expected after the first prototypes are delivered next year.
Kinet is set to supply 1,920 Vande Bharat sleeper coaches to Indian Railways.
The first prototypes are expected within 24 months of the contract signed in September 2023, with a total project cost of $6.5 billion.
This includes $1.7 billion for manufacturing and $4.8 billion for maintenance over 35 years.
COMMENTS