Boost to the rail manufacturing sector! Titagarh Rail forms JV with Amber group to build railway components in India and Italy financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Under the agreement, TRSL and the Amber group will invest Rs 120 crore to acquire equal control in the special purpose vehicle for setting up the business
The SPV will set up a new facility in India to manufacture critical railway components and subsystems used in the manufacture of railway and metro coaches
Under the pact, TRSL and Amber group, via its wholly owned subsidiary Sidwal Refrigeration Industries Pvt Ltd, will invest up to Rs 120 crore each to acquire equal control in the SPV for setting up the new railway component business as well as fresh equity investment in Firema, Italy.