Kolkata: Texmaco Rail & Engineering Ltd and Rail Vikas Nigam Limited (RVNL) on Thursday formalised a strategic joint venture (JV) through the signing of a shareholders’ agreement, marking a significant public-private collaboration in the rail sector.

Under the agreement, RVNL will hold a 51% majority stake in the new entity, while Texmaco will retain the remaining 49%.

Saroj Kumar Poddar, Chairman of Texmaco, said the partnership combines Texmaco’s manufacturing capabilities and export presence with RVNL’s experience in executing complex railway engineering, procurement and construction (EPC) projects. He noted that the JV is aligned with the Government of India’s Aatmanirbhar Bharat initiative, aimed at strengthening domestic industrial capacity.

Indrajit Mookerjee, Vice Chairman and Executive Director of Texmaco, described the alliance as a transformational step toward building globally competitive rail capabilities from India. Sudipta Mukherjee, Managing Director of Texmaco, termed the JV a distinctive public-private model focused on advancing next-generation freight systems, locomotives, passenger coaches and metro solutions.

The new venture will concentrate on advanced rolling stock manufacturing, lifecycle maintenance, asset management services and large-scale EPC and turnkey rail infrastructure projects in both domestic and international markets.

According to company officials, the JV will actively pursue integrated rail manufacturing and infrastructure contracts across Asia, Africa and West Asia. The initiative is expected to strengthen India’s position as a comprehensive provider of end-to-end railway solutions in the global market.