Wagon-maker Texmaco Rail & Engineering Ltd hopes to roll out first batch of railway coaches after a year.
According to the company’s Chairman, S.K. Poddar, the Rs 60-crore first phase project work is expected to be completed by second quarter of 2013-14. “The construction work at Sodepur (near here) is on,” he said.
In the second phase, the unit would go in for manufacturing of metro coaches.
The company, now a part of SK Poddar-controlled Adventz group, also expects to commission the manufacturing facility of its equal joint venture with UGL of Australia. This unit, located nearby, is for locomotive bogie frames, head stocks for coaches, platform & cabs, and wagon components. The joint venture at present is capitalised at Rs 72 crore.
The company has also formalised a 50:50 wagon leasing joint venture with its French partner Touax Rail.
To begin with, the joint venture NBFC will have a minimum net worth of Rs 25 crore and 2:1 debt-equity ratio.
The group’s other company Texmaco Infrastructure & Holdings Ltd is gearing up to develop 9.6 acres of prime land in the Capital. This is part of the total 24 acres that once housed Birla Cotton Mill.