Jupiter Wagons and Lucchini RS join hands for railwheel manufacturing in Odisha
Kolkata-based railway wagon manufacturer Jupiter Wagons Limited has entered into a strategic partnership with Italian steel firm Lucchini RS Holding S.p.A. This partnership will establish India's first fully integrated private-sector railwheel manufacturing platform in Odisha.
Italian firm will acquire a combined 25 percent stake in Jupiter Tatravagonka Railwheel Factory Pvt Ltd (JTRWF) for Rs 307 crore. Out of 25%, the Italian government-backed financial institution SIMEST S.p.A. will acquire a 10% stake. The partnership will establish an end-to-end manufacturing platform for railway wheels, axles and wheelsets, covering the complete value chain from raw material processing to finished products.
Jupiter Wagons' Odisha facility will become India's first fully integrated private-sector rail wheel manufacturing platform.
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