CG Power and Industrial Solutions Ltd has entered into a long-term supply agreement with Kinet Railway Solutions Limited for the supply and servicing of railway products. Under this agreement, the company has received an initial purchase order valued between INR 400 crore and INR 450 crore for supplying propulsion kits, motors, transformers, and other components for 10 Vande Bharat trainsets.
Kinet Railway Solutions, a joint venture between India’s Rail Vikas Nigam Ltd (RVNL) and Russian engineering companies Metrowagonmash and Locomotive Electronic Systems (LES), has commenced operations at the Marathwada Rail Coach Factory (MRCF) in Latur, Maharashtra. The facility, spanning 351 acres, is equipped with 11 assembly stations and specialized workshops dedicated to car body production, warehousing, assembly, testing, bogie construction, and painting. The factory also features 8.6 km of internal tracks to facilitate efficient movement of train components.
In October 2024, Indian Railways renegotiated its Vande Bharat order with Kinet, adjusting the contract to 80 trainsets, each with a 24-coach configuration, instead of the originally planned 120 trainsets with 16 coaches each. The first prototypes under this revised order are expected by September 2025.
CG Power manufactures railway equipment such as traction machines, railway propulsion systems, and signaling products. The company operates 18 manufacturing plants across nine locations in India and one in Sweden. It reported consolidated revenue of INR 8,046 crore (USD 964 million) for the financial year 2024. Since November 2020, CG Power has been part of the Murugappa Group.