New Delhi, July 29 (SocialNews.XYZ) Kolkata-based Texmaco Rail & Engineering Limited, France's Touax Group and US-based TrinityRail Global Inc. have entered into a strategic three-way partnership to strengthen India's rail freight ecosystem by creating an integrated railcar leasing platform and investing in new rolling stock, it was announced on Wednesday.
Under the agreement, TrinityRail Global will acquire a proposed 32 per cent equity stake in Touax Texmaco Railcar Leasing Private Limited (TTRL), the existing joint venture between Touax Group and Texmaco Rail, which currently hold 34 per cent equity each.
The companies said the expanded partnership will combine their expertise in wagon manufacturing, leasing, financing, engineering, maintenance and lifecycle management to support the growing demand for rail freight solutions in India.
As part of the collaboration, the partners plan to invest in 100 new railway rakes over the next three to five years, aiming to strengthen the country's freight transportation infrastructure and promote greater adoption of rail-based logistics.
Speaking at a media briefing, Saroj Kumar Poddar, Chairman of Texmaco Rail & Engineering, said the partnership brings together three complementary capabilities in manufacturing, leasing and engineering to deliver end-to-end rail mobility solutions for India.
"The idea of this joint venture is to offer integrated rail solutions encompassing design, manufacturing, financing, leasing, maintenance and lifecycle engineering," Poddar added.
Fabrice Walewski, General Partner and Chief Executive Officer of Touax Group, said the company has been operating in India for more than three decades through its container leasing business and has witnessed steady growth in the market.
He noted that Touax has longstanding relationships with organisations such as the Shipping Corporation of India and other shipping lines serving Indian ports.
''So, again, we are here in India for more than 30 years already in the leasing of the container activity. And it has been a growing market. We work with Shipping Corporation of India and other shipping lines, calling the port of India,” he told IANS.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz