India, Sweden ink MoU on Technical Cooperation in Rail Sector
Union Ministry of Railways and Ministry of Enterprise and Innovation of Sweden have inked a Memorandum of Understanding (MoU) on Technical Cooperation in Rail Sector.
The main objective of MoU is to develop cooperation activities in the Railway sector to promote efficiency and sustainability and to achieve concrete results with regard to bilateral trade, research, investment and technology transfer.
Key features of MoU
- Benchmark Railways policy development, organization, regulations and specific characteristics for each country.
- Exchange of knowledge, innovation, technology, technical expertise, sustainable solutions and research.
- Other cooperation projects agreed include tilting coaches/trains, optimisation of maintenance, capacity allocation (time tabling) and improved freight/combination traffic.
- Training and continuing of education program in maintenance of Rail transport system for Railway engineers and managers.
This MoU will remain in force for 5 years and can be extended for a further period of 5 years with the written consent of both sides.
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Month: Current Affairs - February, 2016