K&R Rail Engineering Signs MOU for Composite Sleeper Plant in Madhya Pradesh

K&R Rail Engineering Ltd has announced a partnership with South Korea's UNECO Co. Ltd to build a Composite Sleeper Plant in Madhya Pradesh, India. The plant, costing Rs. 400 crores, will support Indian Railways and other sectors. Earlier, K&R secured a $500 million deal for a cable car project in Nepal.

Ahmedabad (Gujarat) [India], July 9: K&R Rail Engineering Ltd, a prominent Rail infrastructure firm, has signed a Memorandum of Understanding (MOU) with UNECO Co. Ltd, a South Korea-based company specializing in industrial machinery. This collaboration aims to establish a Composite Sleeper Plant in Nagarnar, Madhya Pradesh, with an estimated investment of Rs. 400 crores.

The facility will address the needs of Indian Railways, DFCC/METROs, Public Sector Undertakings (PSUs), and private corporations. Mr. Amit Bansal, Joint MD and CEO of K&R Rail Engineering Ltd, expressed his satisfaction over the MOU, stating that the project will be completed in 48 months.

Previously, K&R Rail Engineering signed an MoU for the world's longest cable car project in Nepal, valued at $500 million. The company also recorded substantial financial performance in FY2023, with a net profit of Rs. 5.27 crores and total income of Rs. 308.20 crores.

(With inputs from agencies.)