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Texmaco Rail and Engineering & Bombardier to jointly bid for Railway project Print E-mail
Written by Satish   
Wednesday, 03 November 2010
Kolkata: Texmaco Rail & Engineering Limited will join hands with Bombardier Transportation India Limited, a 100 percent subsidiary of global rail equipment major Bombardier Inc to form a consortium and submit a joint bid to the Ministry of Railways for the manufacture of electric locomotives.

The consortium will jointly bid for the global Request For Proposal (global RFP No 2010/Elect(Dev)/440/1), by the Ministry of Railways, for the manufacture and supply 800 electric locomotives of 12000 HP twin Bo-Bo configuration spread over a period of 11 years and undertake maintenance thereof for a period of 15 years.

Soon both companies are expected to enter into a consortium agreement, joint bidding agreement and other incidental or ancillary agreements for this purpose.

Texmaco's heavy engineering and steel foundry divisions have been demerged to Texmaco Rail & Engineering Limited pursuant to a scheme of arrangement between Texmaco Ltd and Texmaco Rail and Engineering Ltd.

The scheme of arrangement was sanctioned by an order, dated 6th September 2010, by the High Court, Calcutta. A certified copy of this has been filed with the Registrar of companies, West Bengal on 19th October 2010.

Texmaco registered a 31.6 percent increase in profits in Q2 this year, with a net profit of Rs 29.43 crore for Q2 2010 against Rs 22.36 crore in Q2 2009.

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