Speaking on the second and concluding day of the UP Investors Summit, Goyal said the factory would be set up on a stretch of 300 acres.
At present, there is a railway coach facility in Rae Bareli, the parliamentary constituency of former Congress President Sonia Gandhi.
The Minister informed that presently 500 coaches were manufactured in this factory every year and the ministry was targeting to double this by next year.
"By 2020 we propose to take this to 2000 coaches and in 2021 to 3000 coaches," he said.
Addressing the 'Ease of Doing Business in Uttar Pradesh' session, Goyal also lauded the state government and Chief Minister Yogi Adityanath for working hard to prepare the ground for such a successful investors summit.
He pointed out how the Chief Minister had broken the jinx of previous chief ministers of not visiting Noida for fear of losing power. He said that Yogi Adityanath had proved beyond doubt that the development of UP and the prosperity of its people was dearer to him than anything else.
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