The Ministry of Railways announced the closure of the four-decade-old Central Organisation for Modernization of Workshops (COFMOW).

• On the recommendations of the Principal Economic Advisor, Ministry of Finance, on the rationalization of government bodies, the Railway Board confirmed the winding up of (COFMOW).
• COFMOW was established under the Ministry of Railways by the Govt. of India for modernizing Indian Railway workshops. 
• The modernization project was funded through World Bank credits. 
• Since its establishment in 1979 COFMOW has assisted in modernizing Indian Railways Production Units and maintenance workshops. 
• It emerged as a leading specialized organization in the fields of manufacturing and maintenance technologies.