Texmaco Rail & Engineering Limited has announced the purchase of Jindal Rail Infrastructure Limited for ₹615 crore. This is a big step to grow Texmaco’s rolling stock business. This deal is the biggest ever in India’s rolling stock industry and will make Texmaco the largest wagon producer in the country.
The timing is good, as India’s wagon industry is growing fast with the government’s support for dedicated freight corridors. Texmaco, part of the Adventz Group, makes wagons for transporting materials like alumina, cement, steel, fuels, chemicals, iron ore, and automobiles.
Jindal Rail, from the Prithvi Raj Jindal group, is known for its high-quality railway freight cars. It designs special freight wagons for industries like steel and automobiles. Since its start in 2012, Jindal Rail has made over 8,600 wagons. Its factory in Vadodara, Gujarat, covers 123 acres and produced 1,650 wagons last year.
Saroj Kumar Poddar, Chairman of Texmaco, said this purchase shows the Adventz Group’s commitment to India’s growth. The acquisition will help Texmaco expand in domestic and foreign markets, boosting the economy.
Combining Texmaco and Jindal Rail’s strengths will create new opportunities. Texmaco will be able to make new types of wagons, increase production, and expand exports. The available land in Vadodara will allow quick growth in other areas like passenger mobility, using Texmaco’s expertise. Texmaco also recently bought a majority stake in Saira Asia, a railway interior company, and has a joint venture with Czech freight maker Nymwag. They plan to open a new factory in Sodepur soon.
