Titagarh Wagons to float JV with Japanese co

KOLKATA: Wagon manufacturer Titagarh Wagons Limited (TWL) will shortly float a joint venture with a Japanese company for manufacturing steel bridges.

"We are going to collaborate with a Japanese firm which has expertise in manufacturing steel bridges," chairman of TWL J P Chowdhury said today.

He, however, did not divulge the name of the overseas company and the exact nature of the tie-up.

Chowdhury said that the joint venture entity would be an associate of TWL.

Regarding Cimmco Birla, Chowdhury said that the company was ready for production of wagons.

TWL joined Cimmco Birla as a co-promoter for revival of the sick unit.

Chowdhury said that Cimmco Birla had a production capacity of 5000 wagons per year, akin to that of TWL.

He said that it was expected that the railways would place a higher order for wagons.

The company is eyeing a Rs 50 crore jump in revenue from Rs 554 crore.