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News & Analysis India

Texmaco, UGL Rail Services To Set Up Wagon Manufacturing Unit In Kolkata

December 21, 2010, Tuesday, 06:51 GMT | 01:51 EST | 11:21 IST | 13:51 SGT

(RTTNews) - India's largest wagon manufacturer Texmaco Ltd. said its Texmaco Rail & Engineering Ltd., had signed a joint venture agreement with Australia-based UGL Rail Services Ltd., complete rail solutions provider, to set up a manufacturing facility in Kolkata to manufacture flat pack wagons, locomotive bogie frames and platforms for export and domestic markets.

The scope of JV covers the design, manufacture and supply of locomotive bogies frames and platforms, wagons and wagon components for the Australian and Indian domestic and export markets. In addition to this, both parties intend on exploring related rolling stock, maintenance and refurbishment opportunities.

At the BSE, Texmaco shares are being traded at Rs.49.10, up by 3.70% from the previous close.