Titagarh Rail Systems Ltd (TRSL) and Bharat Heavy Electricals Ltd (BHEL) have executed an agreement to establish a joint venture company for maintaining 80 Vande Bharat trainsets.
The two companies will hold equal shareholding in the joint venture, which will undertake maintenance under the Indian Railways project covering manufacturing and comprehensive maintenance of the trainsets for 35 years.
JV to focus on 35-year maintenance
The Indian Railways project also includes upgradation of government manufacturing units and trainset depots.
The rights, responsibilities and governance arrangements of TRSL and BHEL will be governed by the terms of the Joint Venture Agreement.
Companies to combine capabilities
The joint venture will combine the complementary capabilities and railway-sector expertise of TRSL and BHEL.
It will provide TRSL an opportunity to establish a long-term presence in railway maintenance and lifecycle-support services.
Focus on rolling stock value chain
The 35-year comprehensive maintenance programme is expected to help TRSL leverage its engineering, manufacturing and railway-sector capabilities.
It will also expand the company’s participation across the rolling stock value chain, from manufacturing to long-term maintenance and lifecycle support.
Technical collaboration planned
The joint venture is expected to facilitate technical collaboration and operational synergies between the two companies.
It will also support efficient lifecycle management of the Vande Bharat trainsets.
The partnership is expected to support Indian Railways’ long-term objectives for modern, reliable and high-quality passenger transportation.