Railways and Steel Ministries will jointly set up a new Rail Axle Manufacturing Factory in West Bengal. This will help to achieve self sufficiency in axle manufacturing and eliminate dependence on imports. The Memorandum of Understanding for the same was signed between the Railway Ministry and Rashtriya Ispat Nigam Limited, a PSU under Ministry of Steel. The new Axle Manufacturing Plant, to be set up at New Jalpaiguri , will have state of art axle forging and machine facilities for manufacturing rail axles. According to an official release the factory will start production within two years.