Jupiter Wagons Ltd. announced plans to invest ₹2,500 crore to increase the production capacity of its subsidiary, Bonatrans India Pvt. Ltd., which will be renamed Jupiter Tatravagonka Railwheel Factory Pvt. Ltd. The investment will be used to expand the subsidiary’s capacity from 20,000 forged wheelsets per year to 1 lakh forged wheelsets annually.
The expansion includes the construction of a new production facility in Odisha, which is expected to become operational by 2027. The new plant will produce forged wheelsets for both domestic and international markets, with 50% of production earmarked for exports, particularly to the company’s partner Tatravagonka A.S and other European customers.
Jupiter Wagons has awarded a contract for the supply and installation of a fully integrated forged wheel and axle line to Schuler Pressen GmbH, a German engineering company. This integrated forging line is intended to improve production efficiency and ensure high-quality control, supporting the company’s manufacturing operations.
The company previously approved the acquisition of Bonatrans India for ₹271 crore in March 2024 and raised ₹800 crore through a Qualified Institutional Placement (QIP) in July. Shares of Jupiter Wagons closed 2% lower on Tuesday at ₹534, though the stock has gained 67% in 2024.