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Joint Ventures

 

Texmaco Rail & Engineering Limited has signed a joint venture agreement on May 16, 2012 with a French group - Touax Rail, a leading Lease Finance Company, having vast expertise in the business of leasing out freight cars (Wagons) etc. The joint venture is for entering into the business of wagon leasing, post receipt of relevant regulatory and statutory approvals, pursuant to recent opening up of Wagon Leasing by Railways under its Wagon Leasing Scheme.

 

 

Texmaco UGL Rail Pvt. Ltd., a Joint Venture company between renowned Infrastructure & Heavy Engineering firm Texmaco Rail   & Engineering Limited (Texmaco), and Technology & Engineering giant in Asia Pacific, UGL Rail, Australia, celebrated the ‘Foundation Stone laying ceremony today in the august presence of the Hon’ble Minister of Transport Shri Madan Mitra, Shri Nirmal Ghosh, MLA, Panihati, local Councilors, Company Executives & Union Office Bearers, and other distinguished guests, for the company’s new Preparatory Shop at Belgharia.

 

This is a milestone in the partnership between Texmaco and United Group, Australia, to establish world class manufacturing facilities in Kolkata. These facilities will be better than UGL’s own facilities in Australia.

 

At present, the plant and machinery are coming from all over the world – wherever best is to be found second to none in the world for our manufacturing activity – Laser Cutters/Plasma Cutters/Robots/Cranes. The company has started cutting steel components and making tangible progress including testing and commissioning. The facility will be ready to produce final components by October’12, and ramping up to full production capacity by March next year. Our product will be of the highest quality, supported by training and world class skills of the workmen.

 

This joint facility will initially build bogies for the Australian market followed by rail bogie frames and platforms, wagons and wagon components, and locomotives for the Australian, Indian and the overseas Asian markets. It would also explore related rolling stock maintenance and refurbishment opportunities.

 

Operations personnel are being sourced from local training institutes. Texmaco is also providing the support of its in-house technical training institute to develop the skills of these personnel.

This partnership is significant in the context of an Indo-Australian joint venture, given India's importance as a growing trade partner and export destination for Australia. We are going to see more Indian companies investing in resources and technology in Australia. Also, the equipment that we make would be relevant to India's interest in coal, out of Australia.

 

The facility is an integral part of UGL rail's supply chain and produce low-cost components and sub-assemblies to support UGL rail's manufacturing business in Australia. The facility will ultimately produce locomotive platforms, locomotive cab structures, bogie frames and iron ore and coal wagon components. The venture facility would also support UGL rail's international bogie business and provide opportunities to compete in new markets across the product range.

 

"Our presence in India continues to grow, and Texmaco is an outstanding partner for this long term commitment." UGL chief executive Richard Leupen said in a statement.

 

 

Upcoming JVs

The Company is also in the final stages of negotiation with  Multi National Groups to enter into a Joint Venture Agreement for manufacturing of Electric Multiple Unit (EMU) and Metro Coaches at Company’s plant site near Kolkata.