RVNL and Texmaco to form joint venture for rail modernization
Rolling stock manufacturer Texmaco Rail & Engineering Ltd has joined hands with government-owned Rail Vikas Nigam Ltd (RVNL) to strengthen India's railway modernisation and export competitiveness. The Joint Venture (JV) would see Texmaco holding a 49% stake, with RVNL as the majority shareholder.
The JV will manufacture freight and passenger rolling stock - including wagons, locomotives, coaches, trainsets, and metro coaches - and also take up EPC projects, depot operations, and global tenders.
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