Titagarh Rail Systems Ltd and Ramkrishna Forgings Ltd plan to jointly set up one of Asia’s largest train wheel manufacturing plants in India, a top executive at the private sector wagon-maker said. India currently imports train wheels mainly from China, and the new venture is expected to make the country a net exporter of wheels, he added.
“The total investment in this project will be about ₹1,000-1,200 crore. We will set up the plant with a capacity to manufacture 200,000 wheels per annum, out of which 80,000 will be supplied to the Indian Railways under a contract. And the balance of 120,000 will be for our requirements," Umesh Chowdhary, vice-chairman and managing director of Titagarh Rail Systems, said.
It also plans to export the wheels to several countries, including Europe.
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