West Bengal is fast emerging as a wagon industry hotspot. KK Birla group company Texmaco on Tuesday entered into a joint venture with $4-billion Australian firm, United Group. As per the agreement, the two partners will jointly undertake design, manufacture and supply of wagons, locomotive bogies and components as well as encompass passenger rolling stock.
The 50:50 partnership also envisages exporting wagons to Vietnam, Cambodia and Australia. Additionally, the duo wants to address related opportunities for rolling stock maintenance and refurbishment. A new JV company will be floated to give shape to the agreement.
The signing ceremony which transpired at Writers' Buildings was attended by state chief minister Buddhadeb Bhattacharjee. Addressing mediapersons after the ceremony, Mr Bhattacharjee said: "The state is poised to receive major investments in the wagon manufacturing segment. Both partners have decided to set up a unit in the state."
Officials remained mum on the investment such a project entails. Group chairman KK Birla said, "Once the detailed project report is ready, we will be able to give more details including the project cost."The unit will probably be spread over 100 acres and be well connected with port and railways. The group intends to start work from Texmaco's Belgharia unit. |
