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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