Kolkata: Texmaco Rail & Engineering Ltd and Rail Vikas Nigam Limited (RVNL) formalised a strategic partnership by signing a joint venture shareholders' agreement on Thursday. RVNL will hold 51%, while Texmaco holds 49%.
Saroj Kumar Poddar, chairman of Texmaco, said: "The alliance brings together Texmaco's industrial manufacturing scale and export reach with RVNL's proven execution track record in complex rail EPC projects, creating a powerful institutional platform aligned with the govt of India's Aatmanirbhar Bharat vision."
Indrajit Mookerjee, vice chairman and executive director of Texmaco, said the partnership represents a transformational step in building globally competitive rail capabilities from India.
Sudipta Mukherjee, managing director of Texmaco, stated: "This joint venture represents a unique public-private partnership. It reflects our shared commitment to shaping the future of rail mobility through next-generation freight, locomotive, passenger and metro systems."
The joint venture will focus on advanced rolling stock segments, lifecycle maintenance and asset management solutions, and large-scale EPC and turnkey infrastructure projects in India and overseas markets, he said.
The venture will also pursue projects across Asia, Africa and West Asia, targeting integrated rail manufacturing and infrastructure contracts to reinforce India's position among the world's leading providers of end-to-end rail solutions, a company official said.