Titagarh Wagons plans to invest around ₹1,000 crore in 3 to 5 years

Naomi Pandya Posted on: 2022-07-30 11:22:00 Viewer: 2,946 Comments: 0 Country: India City: Kolkata

Titagarh Wagons plans to invest around ₹1,000 crore in 3 to 5 years

Kolkata, India (Urban Transport News): The Kolakata-based Railway company Titagarh Wagons Limited, which is currently celebrating its Silver Jubilee year, is now planning to invest around Rs 1,000 crore in a mix of brownfield and greenfield projects in the next five years.

Titagarh Group covers both the domestic and export markets and supplies wagons to Indian Railways and private sector companies. It is expanding wagon manufacturing capacity from 8,000 units per year to 12,000 units per year in the next two-three years at its Titagarh plant and setting up a new stainless steel coach manufacturing facility at Uttarpara. The company has also planned to set up a shipyard at Falta in South 24 Parganas of West Bengal, India.

 “We are planning to export wagons to African markets. We also want to export wagon components to the US and European markets,” said Umesh Chowdhary, Vice Chairman & managing Director, Titagarh Group, FE reported. He said the new stainless steel coach manufacturing unit will be a brownfield project as the company is creating a new factory at its existing facility at Uttarpara. It already has an EMU manufacturing facility at the Uttarpara facility.

“Currently, we have a capacity to manufacture around 200-250 coaches in one year. We will expand the capacity to manufacture up to 450 coaches. Stainless steel coaches are for metro rails. We are already supplying coaches to Pune Metro,” said Chowdhary.

The shipyard at Falta is a greenfield project for Titagarh Wagons and it is expected to be completed within three to three-and-half years. “Currently, we are a debt-free company. We will use future cash flows to invest in brownfield and greenfield projects. It will be mixed financing. All these projects are expected to create direct jobs for more than 5,000 people,” Chowdhary added.

Titagarh Wagons Limited celebrated its Silver Jubilee on 27th of July 2022 at its Uttarpara Plant, with the gracious presence of Chief Minister, Mamata Banerjee along with several other dignitaries of Govt. of West Bengal. The grand ceremony saw the inauguration of laying the foundation stone for the new Stainless Steel Coach manufacturing unit and the Shipyard at Falta SEZ.

Chief Minister also inaugurated the capacity expansion for wagons at Titagarh and the production of Propulsion division for Traction Motors, Traction Converters etc.

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