Jupiter Wagons Ltd (JWL) has entered into a strategic partnership with Italy’s Lucchini RS Holding S.p.A. (LRS) to establish India’s first fully integrated private-sector railwheel manufacturing platform.
Under the binding agreements, Lucchini RS will acquire a 15% equity stake in Jupiter Tatravagonka Railwheel Factory Pvt Ltd (JTRWF), while SIMEST S.p.A., an Italian government financial institution, will acquire an additional 10% stake. The combined 25% stake will be acquired for a consideration of approximately €28 million.
Integrated Manufacturing Platform
The investment creates a long-term industrial partnership between India and Italy to manufacture railway wheels, axles and wheelsets across the entire value chain, from raw material processing to finished products.
JTRWF’s manufacturing platform combines its operational facility in Chhatrapati Sambhajinagar with a greenfield manufacturing complex under development in Odisha.
All under one roof
The Odisha facility will house forging, primary metallurgy and wheel manufacturing capabilities, enabling end-to-end production under one roof.
Once operational, the facility will become India’s only fully integrated private-sector railwheel manufacturing platform capable of producing railway wheels, axles and wheelsets across the complete manufacturing value chain.
Strategic Partnership
“This partnership marks a defining milestone in our vision of building a globally competitive railwheel manufacturing ecosystem in India. We are creating India’s first fully integrated private-sector platform for manufacturing wheels, axles and wheelsets,” said Jupiter Wagons Managing Director Vivek Lohia.
“This transaction represents a significant step in Lucchini RS’s international development path, allowing us to enter an already operational industrial platform with strong growth potential. The partnership with Jupiter Wagons enables us to establish a structured presence in the Indian market, leveraging a solid industrial base and a leading local partner,” said Lucchini RS Chairman Giuseppe Lucchini.
Company Background
Jupiter Wagons is a provider of mobility solutions and railway engineering products, while Lucchini RS is a leading manufacturer of railway wheels, axles and wheelsets.