Vandita Sharma, Principal Secretary, Infrastructure Development Department, Karnataka and K. Swaminathan, Advisor Project (Mechanical Engineering), Railway Board, signed the memorandum.
MSME minister K.H Muniyappa said, “The factory would provide direct employment to over 5,000 people. It would also provide indirect employment to 10,000 people when fully operational. 1,100 acres of land being given free by the State government, is available for the project. Another 500 acres of land are to be acquired.”
Chief Minister Siddaramaiah, Minister of State for Railways K. Surya Prakash Reddy and Union Minister of State (Independent Charge), MSME, K.H. Muniyappa were also present at the meeting.
A press release from the South Western Railway said that the project is being executed on cost sharing basis between the Railways and the State government. On completion, the Kolar factory would be the fourth such factory of the Railways in the country.