The Hindu Business Line : Texmaco joins Japanese consortium to bid for Madhepura project

Kolkata, Aug. 1 Texmaco has joined hands with Japanese consortium, comprising Kawasaki, Toshiba, Mitsubishi Corporation and Mitsubishi Electric Corporation, and has filed request for qualification (RFQ) for the proposed electric loco project to be located at Madhepura in Bihar.

Mr Ramesh Maheshwari, President and CEO of Texmaco, told Business Line on Thursday that the company filed the RFQ along with the Japanese partners on Wednesday.

Without disclosing Texmaco’s share in the five-way Indo-Japanese joint venture, he said the company has participated in the qualifying bids for setting up the project as well as the procurement-cum-maintenance contract.

The estimated cost of the project, with a capacity of 120 locomotives, is at Rs 1,460.57 crore.

Australian JT venture

Mr Maheshwari also said a $50 million equal joint venture with UGL of Australia for manufacturing freight cars and coaches would be signed shortly in August. This project would be located in West Bengal.

Meanwhile, Texmaco has reported 46 per cent growth in turnover at Rs 280.43 crore and 101 per cent jump in net profit at Rs 22.82 crore for the June quarter. Texmaco’s order book stands at Rs 2,000 crore.

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