Titagarh Rail Systems Limited (TRSL) and Bharat Heavy Electricals Limited (BHEL) have moved to create a joint venture to manage long term maintenance of the Vande Bharat Sleeper trainsets their consortium will supply. The companies informed investors through regulatory filings that TRSL's board approved formation of a special purpose vehicle on 19 March to discharge maintenance obligations under the project. BHEL indicated the JV will proceed after securing clearance from the Department of Investment and Public Asset Management.

The joint venture will undertake comprehensive servicing and long term upkeep as part of a contract awarded under the Government of India's Make in India and Atma Nirbhar Bharat initiatives. The consortium has won a contract valued at nearly Rs 240 billion (bn) to manufacture and maintain 80 Vande Bharat Sleeper trainsets for Indian Railways, with maintenance responsibilities spanning 35 years. Each trainset will comprise 16 coaches.

TRSL has set 31 March as the target to complete car bodies for the first rake of the sleeper version and the consortium aims to roll out the first train by the third quarter of the financial year 2027. The JV agreement will be finalised after DIPAM clearance and may be amended to reflect regulatory requirements under the listing regulations. The companies said details required under securities regulations will be disclosed once the agreement is signed.

The arrangement is intended to ensure sustained technical support and adherence to service standards over the three decade plus maintenance term, with the special purpose vehicle focused on lifecycle upkeep and compliance. The move reflects an industry trend towards integrated manufacturing and long term aftersales partnerships for high speed and semi high speed rolling stock. The consortium will be responsible for carrying out scheduled maintenance, overhauls and any contractual performance obligations under the MCMA framework.