Indian Railways Set for Transformation with New JV

Rail Vikas Nigam Limited and Texmaco Rail & Engineering Ltd have signed a joint venture agreement to develop a next-generation railway ecosystem in India. The new company aims to be operational by November 2025, addressing growing demands in Indian Railways and exploring international markets.

Rail Vikas Nigam Limited (RVNL) and Texmaco Rail & Engineering Ltd have entered a joint venture aimed at revolutionizing India's railway ecosystem. An official revealed that the new company will be incorporated by November, with operations expected to commence by late 2025.

The joint venture plans to tackle priority projects for Indian Railways, including manufacturing freight wagons, passenger coaches, and locomotives. With a projected investment of Rs 200 crore, the alliance will draw on RVNL's project management expertise and Texmaco's manufacturing prowess. The initiative also eyes international opportunities, making the venture a globally competitive player.

"Indian Railways' expansion plans demand more capacity and collaborative models," said Manish Agarwal, Executive Director at RVNL. As existing manufacturers strive to meet increasing demands, this JV aims to augment infrastructure and innovation in the sector, contributing significantly to India's railway modernisation efforts.

(With inputs from agencies.)