Jessop gets wagon supply order from ETA group

Kolkata: The Ruia group controlled Jessop and Co has received order from the Emirates Trading Agency (ETA) group of Dubai for supplying five rakes of wagons worth Rs. 50 crore to its Indian arm ETA Engineering.

The company is also expecting to bag a major order for wagons from a multinational player in the logistics sector, according to managing director Mr S.C. Saxena.

The Ruia Group acquired the sick heavy engineering & infrastructure public sector company in 2003. The company’s profit after tax in 2007-08 stood at Rs.18.66 crore against Rs.11.08 crore in 2006-7.

In another development, Ruia group promoter and the company chairman Mr. P K Ruia stepped down from the post executive member on the board of Jessop. “Mr Ruia is busy in global acquisitions and expansion of the Ruia Group, that is why he stepped down from being an executive member in the board of Jessop,’ Mr Saxena said.