Shares of Texmaco Rail & Engineering rose 0.46% to Rs 139 on the BSE.
Under the agreement, RVNL will hold a 51% stake in the new entity, while Texmaco will own the remaining 49%. The JV is expected to close by 31 December 2025, subject to regulatory approvals.
The joint venture company will focus on the manufacturing and maintenance of freight and passenger rolling stock, including locomotives, wagons, coaches, trainsets, metro coaches and specialized equipment.
The establishment of this joint venture holds strategic importance for both Texmaco Rail and RVNL. Through the combination of Texmaco Rail’s extensive manufacturing experience and RVNL’s project execution capabilities, the two firms aim to enhance their operations and market reach both in India and internationally. This venture is also in close alignment with the government's vision for railway modernisation and the Make in India initiative, which focuses on promoting local manufacturing and infrastructure development.
Rail Vikas Nigam is in the business of executing all types of railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc.
Texmaco Rail & Engineering (TEXMACO), a listed entity under the Adventz Group, is a prominent player in India’s railway and infrastructure sector. The company operates through three core business segments: Freight Cars, Infra–Rail & Green Energy, and Infra–Electrical. The company specializes in manufacturing rolling stock, locomotive components, hydro-mechanical equipment, railway infrastructure, bridges, and steel structures. It is also a leading supplier of freight cars to Indian Railways.