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10/12/20 12:00 PM IST

MoU for Road Infrastructure Sector

In news

India signed a MoU with tRepublic of Austria on Technology Cooperation in the Road Infrastructure Sector

Participants
  • The Ministry of Road Transport and Highways
  • The Federal Ministry of Climate Action, Environment, Energy, Mobility, Innovation and Technology of the Republic of Austria
Aim

To create an effective framework for bilateral cooperation in the field of Road Transportation, Road/Highways infrastructure development, management and administration, Road safety and Intelligent Transport Systems between both countries.

India and Austria
  • It will further strengthen ties, promote long standing bilateral relations and enhance trade and regional integration between the two countries.
  • India has had good diplomatic relations with Austria since the establishment of bilateral ties between the two countries in 1949.
  • Both countries share a history of friendly economic and diplomatic relations.
  • Austria has state of the art technologies for roads and highways, such as electronic toll systems, intelligent transportation systems, traffic management systems, tunnel monitoring system, geo-mapping and landslide protection measures.
  • The Indo-Austria bilateral cooperation in the road transport sector would be beneficial both from the perspective of enhanced road safety as well as attractive financing possibilities for the sector, thus fostering and intensifying the already good relations between the two countries, through this MoU in the Transport sector.
Source :PIB

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