A Memorandum of Understanding (MoU) has been signed recently between Ministry of Railways and Coal India Limited. The MoU will lead to procurement of 2000 wagons (33 rakes) in the first outgo.

The agreement was signed in the presence of Union Minister for Railways, Suresh Prabhu, Union Minister of State (Independent Charge) Coal, Power and New & Renewable Energy, Piyush Goyal Union Minister of State for Railways Manoj Sinha. U.C. Joshi, Executive Director Freight Marketing on behalf of Ministry of Railways and T.K. Sinha, General Manager, Project Monitoring Division on behalf of Coal India Limited signed the MoU.

Speaking on the occasion, Suresh Prabhu said that this is a path-breaking agreement which will result into speedy supply of wagons for coal loading in dedicated circuits. Shri Prabhu informed that the initial investment of Rs. 500 crore will lead to anticipated investment of Rs5000 crore. Stating coal as mainstay of Railways, the Minister informed that the two-third of its revenue comes from the coal.

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