Australian research centre Monash University Institute of Railway Technology and Indian Ministry of Railways Corporation Dedicated Freight Corridor Corporation of India Limited signed an agreement to this effect.
IRT with partners Balaji Railroad Systems Ltd (BARSYL), leading railway consultants in India, PwC, and Indian Institute of Bombay (IITB) were selected as the preferred supplier from a competitive global selection process.
They will provide guidance on the establishment of a new applied research and development institute in India known as SRESTHA (Special Railway Establishment for Strategic Technology & Holistic Advancement).
SRESTHA will be locally engaged, but have a global reach.
It will have the aim to become a world leader in the advancement of rail.
Significantly, the project will provide guidance to the Indian Railways on international models that will be adapted to the Indian railway environment.