+
Titagarh Wagons confirms single-largest order for 24,177 wagons
RAILWAYS & METRO RAIL

Titagarh Wagons confirms single-largest order for 24,177 wagons

Titagarh Wagons has received a letter of acceptance (LoA) for manufacturing and supplying 24,177 wagons from Indian Railways worth Rs 7,838 crore plus taxes.

The company said that the order is required to be executed over thirty-nine months. This is the single-largest order since 1997.

Vice-Chairman and Managing Director Umesh Chowdhary said the government had announced to look at doubling freight loading in the next few years, which might lead to the procurement of a much larger number of wagons.

He said that the company is expecting to receive an order for a large quantity, and this order for 24,177 wagons reaffirms the leadership position in this business segment and boosts its financial performance. It would also enable the company to become the most dependable rolling stock products manufacturer.

He added that the company is also trying to develop an export market for freight wagons and transit train businesses. International certification and application for accreditation of services are completed for accepting its products globally.

Chowdhary said that the company had recently opened an office in America and has a significant presence in Europe through our Italian subsidiary involved in transit train manufacturing.

The company will be synergising its Indian and Italian operations to cover the global market for freight wagons and transit businesses.

The company reported a consolidated net loss of Rs 18.79 crore for FY21, while its revenue from operations was Rs 1,520.64 crore.

Image Source

Also read: Titagarh Wagons rolls out first train for Pune metro rail project

Titagarh Wagons has received a letter of acceptance (LoA) for manufacturing and supplying 24,177 wagons from Indian Railways worth Rs 7,838 crore plus taxes. The company said that the order is required to be executed over thirty-nine months. This is the single-largest order since 1997. Vice-Chairman and Managing Director Umesh Chowdhary said the government had announced to look at doubling freight loading in the next few years, which might lead to the procurement of a much larger number of wagons. He said that the company is expecting to receive an order for a large quantity, and this order for 24,177 wagons reaffirms the leadership position in this business segment and boosts its financial performance. It would also enable the company to become the most dependable rolling stock products manufacturer. He added that the company is also trying to develop an export market for freight wagons and transit train businesses. International certification and application for accreditation of services are completed for accepting its products globally. Chowdhary said that the company had recently opened an office in America and has a significant presence in Europe through our Italian subsidiary involved in transit train manufacturing. The company will be synergising its Indian and Italian operations to cover the global market for freight wagons and transit businesses. The company reported a consolidated net loss of Rs 18.79 crore for FY21, while its revenue from operations was Rs 1,520.64 crore. Image Source Also read: Titagarh Wagons rolls out first train for Pune metro rail project

Next Story
Infrastructure Energy

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?