Texmaco Rail & Engineering enters into a JV with French group Touax Rail

KOLKATA: Texmaco Rail & Engineering has entered into 50:50 joint venture with a French group Touax Rail, engaged in the business of freight car leasing.

The JV cornpany has been christened as ' Touax Texmaco Railcar Leasing Pvt. Ltd.' and will have a minimum net worth of Rs 25 crore, the threshold Iimit for.eligibility to qualify for the business. The same will be enhanced in due course. Touax Rail will extend both technical and financial support to the JV company.

The company would have an early bird advantage of the railways present policy of permitting leasing companies to own and lease wagons to industry and other end users on operating lease basis, which hitherto was not permitted.