Texmaco Rail Acquires Jindal Rail Infrastructure for ₹615 Crore.

Texmaco Rail & Engineering Limited has announced the acquisition of Jindal Rail Infrastructure Limited for ₹615 crore, marking a strategic expansion in its rolling stock business.

"The acquisition is the largest in the history of India’s rolling stock industry and will significantly increase Texmaco’s manufacturing capacity, making it the largest producer of wagons in India," the company stated in a press release. "This acquisition comes at a pivotal time, given the growth surge in India’s wagons industry, bolstered by the Government of India’s policy for dedicated freight corridors."

Texmaco, part of the Adventz Group, manufactures a variety of wagons for the transport of goods including alumina, cement, steel, fuels, chemicals, iron ore, and automobiles.

Jindal Rail, a Prithvi Raj Jindal group company, is renowned for its high-quality railway freight car designs, including BFNV wagons for the steel industry and ACT1 wagons for automobile transport. Since its establishment in 2012, Jindal Rail has delivered over 8,600 wagons and operates a 123-acre manufacturing facility in Vadodara, Gujarat, which produced 1,650 wagons in the last fiscal year.

Saroj Kumar Poddar, Chairman of Texmaco, commented on the acquisition, stating, "The Adventz Group is committed to India’s development. The Jindal Rail acquisition will exponentially boost our participation in domestic and foreign markets, catalyzing the nation’s economic growth."

A press statement highlighted the synergistic benefits of the acquisition, including Texmaco's entry into new wagon types, increased production capacity with minimal capital expenditure, enhanced export capabilities, and a strengthened competitive advantage. The 60-acre land bank in Vadodara will facilitate rapid capacity expansion into areas such as passenger mobility, while Texmaco’s expertise will enable vertical integration of operations.

Texmaco has recently acquired a majority stake in Saira Asia, a global railway interior company, and has a joint venture with Czech freight maker Nymwag, with a new factory set to open in Sodepur soon.

HBL