Titagarh Rail and Amber Group form alliance for train components business
Prominent Indian rolling stock manufacturer Titagarh Rail Systems (TRSL) has forged a strategic alliance with Amber Group for railway component and subsystem business through a joint venture/SPV (Special Purpose Vehicle). As per the agreement TRSL and Amber group, via its wholly owned subsidiary Sidwal Refrigeration Industries Pvt Limited, will invest approximately Rs 120 crores each to obtain around 50% each in the SPV for setting up the new railway component business as well as fresh equity investment in Firema, Italy.
Further SPV will set up a new facility in India to manufacture critical railway components & subsystems used in the manufacture of Railway & Metro coaches and will also make fresh equity investments into Titagarh Firema SpA, Italy.
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