The Indian Ministry of Railways signed a memorandum of understanding (MoU) with the government of Sweden for technical cooperation. Through this 5-year-long MoU which also has scope for extension for five more years, the two countries intend to take further existing cooperation in bilateral trade and investment.
Under the MoU, both the sides intend to develop cooperation activities in the railways, which include railways policy development, regulations, exchange of knowledge & technical expertise, innovation, technology, sustainable solutions and research.
Tilting trains, maintenance and improvement of rail freight or combined traffic and capacity allocation are among the other individual projects involved.
According to the National Transport Development Policy Committee, the Indian Railways is planning investments worth about Rs.32 lakh crores (USD 4.6 billion) by 2032.
Share on:
