The Union Cabinet chaired by Prime Minister Narendra Modi was on Wednesday apprised of a Memorandum of Understanding (MoU) signed between the Ministry of Railways and the DB Engineering and Consulting GMBH of Germany for technological cooperation. The MoU was signed in February this year.
This MoU for technological cooperation in the railway sector will enable cooperation in freight operations including cross-border transport, automotive transport and logistics, passenger operations including high-speed and cross-border traffic.
It will also help in infrastructure building and management including dedicated freight corridors and development of passenger stations; development of a modern, competitive railway organisation including the improvement of organisational structures and railway reformation.
The MoU will also facilitate IT solutions for railway operations, marketing and sales as well as administrative purposes, predictive maintenance; private train operations; and any other area, which may be mutually agreed in writing between the two parties.
The Ministry of Railways has signed (MoUs), Memorandums of Cooperation (MoCs)/Administrative Arrangements (AAs)/Joint Declarations of Intent (JDIs) for technical cooperation in the rail sector with various foreign governments and the national railways in respect of identified areas of cooperation, which include high-speed rail, speed raising of existing routes, development of world-class stations, heavy haul operations and modernisation of rail infrastructure, etc.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)