Bharat Heavy Electricals (BHEL) has signed a joint venture agreement with Titagarh Rail Systems (TRSL) to set up a company that will maintain Vande Bharat sleeper trainsets for 35 years. The agreement was signed on Tuesday, BHEL announced via an exchange filing.
BHEL, Titagarh Rail to hold 50% each
The two companies will hold 50% each in the proposed joint venture company. The entity has not been incorporated yet.
It will be registered as a private limited company with an initial paid-up share capital of Rs 50 lakh. The registered office will be in the state of Delhi. BHEL and TRSL will each nominate two directors to its board.
BHEL said the arrangement is domestic. It also said TRSL is not a related party.
35-year maintenance covers trainset service life
The scope of the venture is the comprehensive maintenance of the supplied Vande Bharat sleeper trainsets. That is its only stated area of business.
“The JVC shall leverage the joint technical strength of both promoter companies for ensuring the operational readiness, safety and reliability of the trainsets for their entire 35-year service life,” BHEL said in the annexure to the filing.
Tuesday’s filing follows an earlier communication from BHEL dated 19 March 2026 on the proposed venture. The details prescribed under Regulation 30 were disclosed only now, after the agreement was signed.
About BHEL
Bharat Heavy Electricals describes itself as India’s largest engineering and manufacturing enterprise in the energy and infrastructure sectors. Established in 1964, it is a Maharatna public sector undertaking under the Government of India and is headquartered at BHEL House, Siri Fort, New Delhi.
The company says it is a leading power equipment manufacturer globally, with a portfolio spanning thermal, hydro, gas, nuclear and solar PV power, transmission, transportation, defence and aerospace, oil and gas, and newer areas such as battery energy storage systems and electric vehicle chargers. It has a pan-India presence with 16 manufacturing units and more than 150 project sites globally, and spends over 2.5% of its turnover on research and development.
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