Companies

Titagarh Wagons arm gets euro 65 mn order

Jayanta Mallick Kolkata | Updated on January 19, 2018 Published on January 14, 2016

Titagarh Wagons Ltd said on Thursday that its Italian subsidiary obtained a new order worth Euro 65 million for double deck trains.

The subsidiary Titagarh Firema Adler SpA (TFA) in a consortium with Hitachi Rail Italy bagged an order worth Euro 110 million from an Italian rail transport firm. The TFA’s share in the order was worth 65 million, Titagarh Wagons said in a press release. The trains are to be delivered by April 2017.

In July last year, Titagarh Wagons Ltd acquired control over a Milan-based firm in partnership with an Italian group Adler Plastics SpA for an undisclosed sum.

Adler Plastics holds 10 per cent equity stake in Firema.

Firema, TWL said, had been an established designer and manufacturer of metro coaches and semi/high speed trains, propulsion systems for trains such as traction motors and converters.

Earlier, TFA had bagged orders for nine high-speed EMU trains. This week it supplied the first such train to the Italian transportation company, which gave the order.

The order book of TWL group of companies including TFA and Titagarh Wagons AFR, its French wagon making subsidiary, now stands at Rs 2,800 crore. TWL said it was also executing orders for wagons worth $ 8 million from French-speaking African region. These wagons will have technology and design support from its French subsidiary.

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Published on January 14, 2016
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