Texmaco Rail & Engineering Limited (Texmaco) has announced a joint venture (JV) with Rail Vikas Nigam Limited (RVNL) for the manufacturing and maintenance of rolling stock, including both freight and passenger segments such as locomotives, coaches, wagons, trainsets, metro coaches, specialised equipment, and related components.
The JV will participate in both international and domestic competitive bidding processes and will be involved in the execution of engineering, procurement and construction (EPC) projects in the rail infrastructure sector. Texmaco and RVNL will hold 49 per cent and 51 per cent stakes, respectively, in the JV company. Texmaco will acquire its stake through a cash investment of Rs 490 million. The JV is expected to be closed by December 31, 2025.
Additionally, the primary operations will be based in India, with the flexibility to expand into other geographies upon mutual agreement between the firms.