Rail Vikas Nigam Limited (RVNL) and Texmaco Rail & Engineering Ltd, who recently formalised a joint venture agreement to drive India’s next-generation railway ecosystem, plan to incorporate a new company by November 2025, an official confirmed.

Manish Agarwal, Principal Executive Director (Mechanical) at RVNL, stated, “Following the signing of the JV agreement, we are completing the statutory and regulatory formalities for the new company’s incorporation. We aim to operationalise it by November 2025 so it can begin contributing to railway projects in India and overseas.”

The joint venture will design, manufacture, and maintain freight wagons, passenger coaches, locomotives, metro coaches, and trainsets. It will also bid for engineering, procurement, and construction (EPC) contracts in the railway and allied sectors. Additionally, it will manage depots, workshops, and maintenance sheds.

The total planned investment in the venture is Rs 2 billion, with an initial capital infusion of Rs 100 million by both partners to commence operations. Texmaco will leverage its existing manufacturing infrastructure to initiate production, while the JV will assess the need for new facilities based on project pipelines and future expansion plans.

On naming the new company, Agarwal said that a few options are under consideration and will be revealed soon. In parallel, RVNL and Texmaco are working to identify priority projects and business opportunities for the new entity.

RVNL, a Navratna central public sector enterprise under the Ministry of Railways, brings strong execution capabilities in large-scale infrastructure projects. Texmaco, part of the Adventz Group, is a leader in rolling stock and railway equipment manufacturing.

“The rationale behind the JV is to merge RVNL’s project execution strength with Texmaco’s industrial and manufacturing expertise. We want to create a competitive platform that delivers end-to-end railway solutions,” Agarwal explained.

He noted that the rising demand from Indian Railways, driven by ambitious plans for network expansion, electrification, and modernisation, necessitates new partnerships and enhanced capacity. “While current suppliers are playing a vital role, the scale of demand calls for additional capacity, innovation, and collaborative models. This JV is designed to fill that gap,” he said.

Though the initial focus will be on serving Indian Railways’ growing requirements, the joint venture also plans to explore international markets, in line with RVNL’s and Texmaco’s global ambitions.