RVNL and Texmaco to Form ₹200-Crore Joint Venture by November.

Rail Vikas Nigam Limited (RVNL) and Texmaco Rail & Engineering are on track to form a new company by November, with a total investment of ₹200 crore, according to a senior official. The joint venture aims to become a key player in India’s next-generation railway ecosystem.

The two companies, which recently signed a formal agreement, are now focused on completing statutory formalities and regulatory approvals to incorporate the new entity, said Manish Agarwal, Principal Executive Director (Mechanical) at RVNL.

"We aim to operationalise the new company by November 2025 so that it can begin contributing to upcoming railway projects in India and abroad," Agarwal told PTI.

Key Focus Areas and Strategy

The partnership will focus on designing, manufacturing, and maintaining a wide range of railway equipment, including:

• 
  

  Freight wagons and passenger coaches

  
  


• 
  

  Locomotives and metro coaches

  
  


• 
  

  Trainsets

  
  

The joint venture will also bid for Engineering, Procurement, and Construction (EPC) projects, both domestically and internationally, and manage related workshops and depots.

While the total planned investment is ₹200 crore, an initial ₹10 crore will be infused by both partners to begin operations. Texmaco will use its existing manufacturing facilities to start, with the new company evaluating the need for additional facilities as it expands.

Addressing Growing Demand

Agarwal explained that the collaboration leverages RVNL’s strong project execution track record and Texmaco’s expertise in manufacturing rolling stock.

"With the Indian Railways' ambitious plans for expansion, electrification, and modernisation, demand for rolling stock and allied infrastructure is growing rapidly," he said. "The JV is a step towards augmenting the ecosystem and meeting these rising requirements."

While the primary focus will be on the Indian market, the new company also plans to explore international opportunities, with the goal of becoming a "globally competitive player in the railway ecosystem," Agarwal added.