Texmaco, RVNL form JV to boost rail modernisation, exports

Rolling stock maker Texmaco Rail & Engineering Ltd on Wednesday said it has formed a joint venture with Rail Vikas Nigam Ltd (RVNL) to strengthen India’s railway modernisation and export competitiveness.

The venture will manufacture freight and passenger rolling stock – including wagons, locomotives, coaches, trainsets and metro coaches – and also take up EPC projects, depot operations and global tenders, a statement said.

Texmaco, part of the Adventz Group, will hold a 49 per cent stake, while Navratna PSU RVNL will remain the majority shareholder.