Italian govt likely to invest in Titagarh Wagons subsidiary Firema
The Italian government is likely to acquire at least 20 per cent stake in Titagarh Wagons’s wholly-owned subsidiary Firema SPA, sources said on Sunday. Invitalia, the Italian government’s investment promotion agency, will be acquiring 20-30 per cent stake in Firema, they said.
Titagarh Group was in dialogue with the Italian government for capital support after the company faced financial headwinds during the pandemic. Firema, which is executing railway projects in Europe, is also instrumental in building India’s first aluminum coach, for Pune Metro.
