Jupiter Wagons Limited (JWL) has partnered with Lucchini RS Holding S.p.A. (LRS) for development of India’s first fully integrated private rail wheel manufacturing platform, also paving the way for global supply chain. It will feature entire value chain, from initial raw material processing to final production of railway wheels, axles, and wheelsets.
Under binding agreements, Lucchini RS will acquire a 15 per cent equity stake in Jupiter Tatravagonka Railwheel Factory Private Limited (JTRWF), while SIMEST S.p.A., an Italian government financial institute, will acquire an additional 10 per cent stake. The combined 25 per cent investment by the two entities is valued at approximately €28 million (about Rs 3.07 billion). Moreover, SIMEST is participating as an equity investor, while CDP is extending dedicated financial and advisory support to Lucchini RS.