Steel Authority of India (SAIL) is in talks with Indian Railways in order to set up a passenger coach making facility jointly, with an estimated investment of Rs 1,000 crore. It has not decided on the locations and a detailed project report is getting readied.
Steel major is also ready to roll out wagons by the end of next year. Production of coaches will be a win-win for both SAIL and the Railways as it would help the steel major to hedge its risks during industrial downturn and the Indian Railways with the easy-availability of coaches.
