Railways and Maruti sign export deal

New Delhi, Sep 6 (UNI) With its coffers already bulging with a Rs 13,000 crore surplus money, the Railways today signed a deal with Japanese automobiles major Suzuki for exporting Maruti and Nissan cars that would fetch for it an additional income of Rs 250 crore per annum.

The agreement was signed between Railway Minister Lalu Prasad, Suzuki Motor Corporation CEO and Chairman Osama Suzuki and a representative of Nissan automobile company at Rail Bhavan here today.

Giving details of the agreement, Mr Prasad told reporters that the Railways would provide freight facility to the Japanese company for exporting 400,000 Maruti and Nissan vehicles per year.

''The deal would become operational after 2009, and the Railways expect to earn Rs 250 crore per annum from the deal,'' he said.

SMC and Nissan have entered into an agreement to set up a 100 per cent export oriented unit (EOU) in India. Under it, Maruti is to produce certain vehicles of Nissan company.

UNI/SKS PV RN1921