Titagarh Rail Systems Ltd and Ramkrishna Forgings Ltd plan to establish one of Asia’s largest train wheel manufacturing plants in India through a joint venture. The project aims to make India a net exporter of train wheels, reducing its reliance on imports, primarily from China.
The total investment for this initiative is estimated to be around INR 1,000-1,200 crore. The plant will have a production capacity of 200,000 wheels per year, out of which 80,000 will be supplied to the Indian Railways under a contract.
Both firms will contribute 50% of each of the projected total investments as equity, which amounts to approximately INR 100-150 crore for each company. The remaining funding will be acquired through debt, facilitated by a special-purpose vehicle.
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Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
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