Texmaco Rail and Engineering Limited and Rail Vikas Nigam Limited (RVNL) have signed the joint venture (JV) shareholders agreement for development of India’s next-generation rolling stock viz. freight, locomotive, passenger, and metro systems with Texmaco holding a 49 per cent stake and RVNL with 51 per cent stake.
The collaboration is structured to leverage public-sector execution with private-sector manufacturing capability. It will focus on advanced rolling stock segments, lifecycle maintenance and asset management solutions, and large-scale engineering, procurement and construction (EPC) and turnkey infrastructure projects in India and overseas including Asia, Africa, and the Middle East. With this partnership, the firms aim to drive innovation, while strengthening both export competitiveness and global standard quality for the railways sector.