New Delhi, Nov 10 (IANS) The Indian Railways on Tuesday signed an agreement with Alstom Manufacturing India to manufacture 800 electric locomotives in 11 years, an official statement said.

The Ministry of Railways and Alstom Manufacturing India will set up a joint venture company in Bihar's Madhepura to construct and operate the locomotive factory.

"Ministry of Railways will hold 26 percent equity in JV Company, subject to a maximum of Rs.100 crore," the statement said.

Costing about Rs.19,000 crore, the 800 modern electric locomotive will come in high horse power of 12,000 HP.

The powerful locomotives are intended to power heavy haul freight operations and mega freight operations of the upcoming Eastern dedicated freight corridors and Pan India operations, it added.