SAIL inks pact with BSCL to set up wagon unit in West Bengal
New Delhi: SAIL on Monday said it has entered into a pact with Burn Standard Company (BSCL), a subsidiary of Railways, to set up 50:50 joint venture for producing wagon components in West Bengal, entailing an investment of Rs 200 crore.
"SAIL has signed a 50:50 joint venture agreement with Burn Standard Company Limited (BSCL) at Kolkata for setting up a Wagon Components Manufacturing Facility at the premises of BSCL at Jellingham, Purba Medinipore district, in West Bengal, with a capacity to produce 10,000 bogies and 10,000 couplers per annum," the company said in a filing to the BSE.
The estimated capital outlay for the project is about Rs 200 crore, it added.
SAIL Chairman C S Verma had earlier said that the commercial production at the facility would begin from 2014. The project would come up on 50 acre within the existing 128 acre of BIFR company Burn Standard at Jellingham.