TRSL & Amber Aim for Railway Component Leadership

Kolkata-based Titagarh Rail Systems (TRSL) has inked a significant agreement with the Amber Group, marking a collaborative investment of up to Rs 240 crore in a special purpose vehicle (SPV).

This strategic alliance aims to venture into the railway component and subsystem business, encompassing both Indian and international markets. TRSL and Amber Group's subsidiary, Sidwal Refrigeration Industries, will share equal control in this joint effort, focusing on establishing a cutting-edge facility in India for the production of crucial railway components and subsystems integral to railway and metro coaches.

The partnership emphasizes the synergy of combined management expertise, cost competitiveness, and mutual growth. Notably, the collaboration extends beyond India's borders, as both entities, in collaboration with Invitalia, the investment arm of the Government of Italy, embark on an investment journey in Titagarh Firema. This strategic move is designed to enhance their presence in European markets.

As per the agreement, Firema has committed to granting Sidwal, Titagarh Rail, and the Joint Venture-SPV a preferred supplier status and the right of first refusal for all their products, further solidifying the cooperative foundation of this endeavor.

News by Rahul Yelligetti