Gandhinagar : In a major boost to small and medium industries in the state, the Gujarat government has signed a memorandum of understanding with the Indian Railways for manufacturing parts of the bullet train (high speed train) with a value of Rs. 67,000 crore.

“We are signing an MoU with the Railways for manufacturing parts for high-speed bullet trains. This will attract business worth Rs. 67,000 crore to Gujarat industries,” said Gujarat Chief Minister Vijay Rupani on the sidelines of a seminar on MSME at the 8th Vibrant Gujarat Global Summit on January 12.

The Railways will also set up a container depot in Rajkot to boost exports from the Saurashtra region. “This will cost about Rs. 100 crore,” Rupani said.

The bullet train, being developed under the National High Speed Rail Corporation Ltd, has a total cost of Rs. 99,000 crore, of which 25 per cent will be borne by the Gujarat government.

Source: The Hindu Business Line