He also flagged off by remote control 5715 Kishanganj- Ajmer Garib Nawaz Express with increased frequency from once a week to thrice weekly. The minister flagged off 3160 down Jogbani-Kolkata Express and announced commissioning of four pairs of passenger trains between Jogbani and Katihar under Katihar division of North Frontier railway. 'India has an age-old bond of friendship with Nepal and extension of the 108 km-long Katihar-Jogbani broad gauge line to Viratnagar will further strengthen our already close people to people contact and economic relations,' Lalu said addressing a gathering after commissioning of the newly laid Katihar-Jogbani broad gauge line at Jogbani. While L&T holds 51% in the JV, Mitsubishi controls the remaining 49%.įORBESGANJ(Bihar): Seeking closer economic ties between India and Nepal, Railway minister Lalu Prasad on Wednesday announced laying of a rail line between Jogbani in Bihar and Viratnagar, the commercial and industrial hub of Nepal. Investments in the two joint ventures would be around Rs 1,000 crore each. He said joint ventures between L&T and Mitsubishi Heavy Industries for manufacturing super-critical boilers and turbine generators would be operational within the next 12-18 months. In 2007-08, it registered a revenue of Rs 29,600 crore. On the possible fund-raising route, Mr Nayak said: “We may raise debt, or it could be combination of debt and equity, a decision that is yet to be taken.” Mr Nayak said the company expects a sales growth of 30% during the current fiscal.

The company plans to raise about Rs 700-800 crore during the second half of the current fiscal. The money will be spent in augmenting facilities at all locations and for setting up a ship-building yard in Tamil Nadu. Incidentally, the company has decided to invest Rs 2,500 crore during the current financial year to augment capacities at its growth centres. There is a possibility of putting up another loco manufacturing unit in India, and we will be interested in setting up a JV with the government.” He was speaking to reporters on the sidelines of a CII seminar in Kolkata on Friday.Įlaborating further, Mr Nayak said: “The Railways has decided to set up new manufacturing capabilities through the public-private-partnership (PPP) route, and we are interested in floating a JV with them.” Indicating its future roadmap, board member and president (operations) at L&T, JP Nayak said: “Indian Railways has two locomotive manufacturing units - the Chittaranjan Locomotive Works and the Diesel Locomotive Works. Larsen & Toubro is studying the possibility of floating joint venture companies with Indian Railways to manufacture equipment for the railways.

Tamilnadu rail route map