Texmaco Rail & Engineering (TREL) has announced a new joint venture with Navratna PSU Rail Vikas Nigam (RVNL) to expand its presence in the rail infrastructure sector. Under the agreement, RVNL will hold a 51 per cent stake in the new entity, while Texmaco will own the remaining 49 per cent. The JV is expected to close by December 31, 2025, subject to regulatory approvals.
JV to manufacture and maintain freight and passenger rolling stock
The joint venture company will focus on the manufacturing and maintenance of freight and passenger rolling stock, including locomotives, wagons, coaches, trainsets, metro coaches and specialized equipment.
It will also take part in domestic and international tenders and execute engineering, procurement, and construction (EPC) projects in the railway sector. The company plans to operate and maintain railway workshops, depots, and sheds as part of its business model.
Texmaco invests Rs 49 crore to acquire 49% stake
Texmaco, part of the Adventz Group, will acquire its 49 per cent stake through a cash investment of Rs 49 crore. “The JV will leverage the complementary strengths of both TREL and RVNL to pursue mutually beneficial business opportunities in the railway sector,” the company said in its filing.
Collaboration aligns with Make in India and green mobility initiatives
Adventz Group chairman Saroj Kumar Poddar said the JV will expand India’s capacity to deliver world-class rail infrastructure, as per a PTI report. “It will open doors for innovation, exports and digital technologies, making Indian railways globally competitive while supporting the country’s self-reliance journey,” he said.
According to PTI, Texmaco MD Sudipta Mukherjee said, “We will deliver next-generation freight, passenger and metro systems that advance Atmanirbhar Bharat and put India on the global rail map.” RVNL chairman and managing director Pradeep Gaur said the collaboration supports the government’s Make in India and green mobility push.
Texmaco, headquartered in Kolkata, runs seven manufacturing units across West Bengal, Gujarat and Chhattisgarh. It supplies freight cars to Indian Railways, private clients and overseas buyers, and has joint ventures with global firms such as Wabtec and Touax.