Texmaco United Group Rail (P) Ltd (TUGRL) is forming a joint venture with a Japanese consortium comprising Kawasaki, Itochu and Toshiba for the manufacture of metro coaches. TUGRL itself is a joint venture between engineering firm Texmaco and United Group of Australia. TUGRL may entail an investment of Rs 200-300 crore and may hold a minority stake of less than 50 percent in the JV with the Japanese partner. They may start manufacturing metro coaches in one of Texmaco’s existing facilities. At the same time they are also looking to set up a greenfield facility for the same.  They will focus on manufacturing loco components for exports as well as new generation freight cars for the growing Indian and export markets. The total outlay of the project in the first phase is estimated at Rs 100 crore. Within the premises of their existing Belghoria unit near Kolkata the Birlas have earmarked an area to take up the 50:50 joint venture project. |
