Adventz to cut dependence on govt orders for rail biz.

The Saroj Poddar-led Adventz Group has chalked out a multi-pronged strategy for the $3-billion group's railway infrastructure business, which will see the vertical reducing its dependence on Government orders and expanding its overseas footprint.

Currently, Texmaco Rail & Engineering Ltd., a group company which is the country's largest wagon maker, is heavily dependent on the Indian Railways for orders, manufacturing one out of every four wagons for them. Texmaco and Kalindee Rail Nirman (Engineers), in which Adventz has a 49 per cent stake, will spearhead the group's strategy for the railway infrastructure business. Both are listed companies.

HBL