Texmaco Rail & Engineering Limited has entered into a joint venture agreement with Rail Vikas Nigam Limited (RVNL) to establish a new entity. Texmaco Rail will hold 49 percent of the share capital in the joint venture, while RVNL will hold the remaining 51 percent. The agreement was approved by the company’s board on 27 August 2025 and executed the same day.
The joint venture company will engage in the manufacture and maintenance of freight and passenger rolling stock, including locomotives, coaches, wagons, trainsets, metro coaches and specialised equipment. It will also undertake engineering, procurement and construction projects in the rail infrastructure sector, participate in domestic and international tenders, and operate and maintain railway workshops, sheds and depots.
Texmaco Rail’s investment in the joint venture amounts to INR 49 million, corresponding to its 49 percent stake. The transaction is structured as a cash consideration and is expected to close by 31 December 2025, subject to statutory, governmental or regulatory approvals, if required.
The joint venture will be incorporated as a new company and does not have a prior history of operations or turnover. Its geographical presence will initially be in India, with the potential to expand to other locations in the future.
Texmaco Rail & Engineering Limited operates across diverse areas of the rail industry, including rolling stock, rail infrastructure, and related engineering services.