Bombardier welcomes FDI in Railways

Tags: News
Bombardier Inc, a Canadian aerospace and transportation company, today welcomed the Centre's decision to open Railways to foreign investment.

"We are pleased with the Government of India's move to allow foreign direct investment (FDI) in Railways," Harsh Dhingra, Bombardier's Chief Country Representative in India, said.

The Canadian MNC, world's only manufacturer of both planes and trains, has a manufacturing plant at Savli on the city's outskirts.

Two days ago, Union Cabinet approved a proposal to open up cash-strapped Railways to foreign investment by allowing 100 per cent FDI in areas such as high-speed train systems, suburban corridors and dedicated freight line projects implemented in PPP mode.

"For a company like Bombardier, which has been investigating in India for the last five decades, it gives us an impetus to invest more towards transforming the rail transportation in India," he told PTI.

"We are interested in various rail projects and hoping to embark on a journey together with the new Government to bring world-class rail infrastructure to India."

The Bombardier's plant at Savli was built with an aim to cater to projects in India and handle export-oriented activities.

EDITORIAL OF THE DAY

  • Mental illness needs to be treated not dismissed as madness

    We’re all mad here.” So said the Cheshire cat to Alice (Alice in Wonderland, Lewis Carol). It’s a matter of perspective who we call mad.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Sanskrit: a victim of academic schizophrenia

J Robert Oppenheimer, the father of the atomic bomb and ...

Zehra Naqvi

God save the child

Childhood is supposed to be the best phase in life. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture