Texmaco, RVNL form joint venture to boost rail modernisation, exports

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Rolling stock maker Texmaco Rail & Engineering Ltd on Wednesday said it has formed a joint venture with Rail Vikas Nigam Ltd (RVNL) to strengthen India's railway modernisation and export competitiveness.

The venture will manufacture freight and passenger rolling stock including wagons, locomotives, coaches, trainsets and metro coaches and also take up EPC projects, depot operations and global tenders, a statement said.

Texmaco, part of the Adventz Group, will hold a 49 per cent stake, while Navratna PSU RVNL will remain the majority shareholder.

The transaction is expected to close by December 2025, subject to approvals.

The JV will explore automation, artificial intelligence and green technologies to deliver advanced and cost-effective solutions, the companies said.

Adventz Group chairman Saroj Kumar Poddar said the JV will expand India's capacity to deliver world-class rail infrastructure.

It will open doors for innovation, exports and digital technologies, making Indian railways globally competitive while supporting the country's self-reliance journey, he said.

Texmaco MD Sudipta Mukherjee said, We will deliver next-generation freight, passenger and metro systems that advance Atmanirbhar Bharat and put India on the global rail map.

RVNL chairman and managing director Pradeep Gaur said the collaboration supports the government's Make in India and green mobility push.

Texmaco, headquartered in Kolkata, runs seven manufacturing units across West Bengal, Gujarat and Chhattisgarh. It supplies freight cars to Indian Railways, private clients and overseas buyers, and has joint ventures with global firms such as Wabtec and Touax.