Texmaco Rail & Engineering Limited and Rail Vikas Nigam Limited (RVNL) have formalised a strategic joint venture by signing a Joint Venture Shareholders’ Agreement in New Delhi. The partnership marks a significant move to accelerate India’s rail manufacturing capacity and enhance its global presence in rail engineering, procurement and construction (EPC) projects.
Saroj Kumar Poddar, Chairman of Texmaco Rail & Engineering, stated that the collaboration combines Texmaco’s large-scale manufacturing strength and export capabilities with RVNL’s extensive experience in executing complex rail EPC projects. He noted that the alliance is aligned with the Government of India’s Aatmanirbhar Bharat vision and aims to build a robust institutional platform for future-ready rail solutions.
Indrajit Mookerjee, Vice Chairman and Executive Director of Texmaco, described the joint venture as a major step toward building globally competitive rail capabilities from India. He highlighted that integrating manufacturing excellence with project execution expertise will enable the platform to address both domestic priorities and international market opportunities.
Sudipta Mukherjee, Managing Director of Texmaco Rail & Engineering, emphasised that the partnership reflects a collaborative public–private approach supporting national infrastructure goals. He said the venture will focus on next-generation freight systems, locomotives, passenger coaches and metro solutions, while driving innovation, strengthening export competitiveness and expanding India’s global rail footprint.
Under the agreement, Texmaco will hold a 49 percent stake, while RVNL will retain majority ownership. The joint venture will concentrate on advanced rolling stock manufacturing, lifecycle maintenance and asset management services, as well as large-scale EPC and turnkey rail infrastructure projects in India and overseas. By combining public-sector execution depth with private-sector manufacturing agility, the partnership aims to deliver integrated solutions that balance engineering innovation, cost efficiency and international quality standards.
Saleem Ahmad, Chairman and Managing Director of Texmaco Rail & Engineering, said the collaboration represents a strategic platform to advance national infrastructure development through scale, technology adoption and participation in global projects. The initiative is designed to position India as a leading hub for rolling stock and rail infrastructure by promoting localisation, technology indigenisation and compliance with global safety and performance benchmarks.
The venture is expected to stimulate industrial growth, support MSME ecosystems and generate significant skilled employment across manufacturing corridors in India. It also plans to embed sustainability measures such as renewable energy integration and circular manufacturing practices. Beyond the domestic market, the JV will target opportunities across Asia, Africa and the Middle East, expanding India’s role as a provider of end-to-end rail solutions.
Rail Vikas Nigam Limited is a Navratna Central Public Sector Enterprise under the Ministry of Railways. The company is responsible for implementing rail infrastructure projects nationwide and has played a key role in expanding railway and metro systems in India and select international markets.
Texmaco Rail & Engineering Limited is a listed company operating across freight cars, rail infrastructure and green energy, and infrastructure-electrical segments. It manufactures rolling stock, rail infrastructure components, bridges and steel structures, supplying Indian Railways, private operators and export markets. Through joint ventures with global companies such as Wabtec and Touax, Texmaco continues to expand its international reach while contributing to India’s rail manufacturing ambitions.
