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Our Bureau

Kolkata, Oct. 28

Texmaco Ltd, a K.K. Birla group outfit, is close to identifying equity partner and technology collaborator for its proposed projects of metro coaches and light-weight freight rakes.

Mr Ashok Vijay, Senior Vice-President, told Business Line on Saturday that the negotiations with a few overseas players have reached a final stage.

“The collaborative deal for equity participation and technology sharing should be through in November,” he added.

According to Mr S.K. Poddar, Executive Vice-Chairman, the collaborations could take shape of a joint venture or a technical alliance. In July, he had mentioned that talks with Trinity, the American freight rake manufacturer, were “at an advanced stage”.

Parallel discussions are also on for the metro coach manufacturing, the company officials maintain.

Texmaco envisages an investment of Rs 200 crore for the two projects. Two new manufacturing facilities are planned to be located in West Bengal.

Mr Vijay said that the company has also initiated the process of obtaining relevant clearance for the proposed Rs 1,000 crore and 300-acre food processing zone near here. The project is a 50:50 joint venture with LMJ International. Texmaco needs to acquire 150 acres adjoining its own land of 150 acres.

Meanwhile, it has bagged biggest-ever order from the Indian Railways of 2,539 wagons, according to Mr Ramesh Maheshwari, President and CEO of the company.

The Rs 283 crore contract is to be signed this week. Texmaco’ reported a profit after tax in Q2 (ended on September 30) of Rs 12.82 crore (Rs 6.18 crore) on a total income of Rs 170.31 crore (Rs 90.56 crore).

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