New Delhi : Bharat Heavy Electricals Ltd (BHEL) has entered into an agreement with Kawasaki Heavy Industries Ltd (KHI) of Japan for manufacturing of rolling stock for the bullet train from Ahmedabad to Mumbai. The agreement covers establishing design, engineering and manufacturing facilities at BHEL using Japanese technology, reports said.
It will also entitle BHEL for all technology advances and upgrades. BHEL supplies electric as well as diesel locomotives, EMUs, and propulsion systems for Indian Railways. Kawasaki Heavy Industries manufactures heavy equipment/ products and its Rolling Stock Company has supplied EMU (Metro/Commuter) train sets to various countries like US, Singapore, Taiwan, Hong Kong etc., besides Japan.
BHEL and Kawasaki Heavy Industries Ltd will make rolling stock for the Mumbai-Ahmedabad bullet train, Abe said in his speech.
Share price of the company reacted to the news as the stock closed 3.4% higher at 136.85 rupees becoming one of leading gainers on the Nifty 200 index Thursday. PM Narendra Modi and his Japanese counterpart Shinzo Abe on Thursday laid foundation stone for India’s first bullet train between Ahmedabad and Mumbai.