International BusinessIndian Railways plans acquisition of 18,000 wagons
The government today said Indian Railways proposes to acquire 18,000 wagons in 2009-10,under rolling stock programme during the current fiscal against 11,000 in the previous financial year.
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The announcement made by Railway Minister Mamata Banerjee is likely to benefit domestic wagon making firms – BEML, Texmaco and Titagarh Wagons.
"There is a growing demand for wagons in railways. We propose to initiate the process for taking over wagon units of Burn Standard and Braithwaite," Banerjee said in Parliament while presenting the Railway Budget 2009-10.
Banerjee said talks have already been started with concerned Ministries for waiver of accumulated liabilities.
"Efforts will be made to complete all action at the earliest as the units are PSUs under the Ministry of Heavy Industries," she said.
However, BEML CMD VRS Natarajan said his company will not benefit from the announcement of acquisitions of wagons.
"We are not in the manufacturing of ordinary wagons which carry 20-25 tonnes, we are in the high-end manufacturing which carry 80-100 tonnes."
The minister added that the production units of Indian Railways have performed well in 2008-09, with many units setting new records of production.