Jessop for JV with foreign companies to make metro coaches

Kolkata, Jul 17(UNI) Jessop&Co Ltd is contemplating to enter joint venture with European and Chinese companies to manufacture metro coaches within one month.

Speaking at the sidelines of the 75th AGM of Jessop, Company Chairman Pawan Kumar Ruia said,''We may enter into technical partnership with the foreign companies.'' A state-of the art foundry and new coach factory for metro coaches are in the offing, according to the Annual Report of the company.

Mr Ruia said the coach factory would be built in an area of 117 acres in Durgapur.

In the metro coach manufacturing segment, there are a number of competitors like BEML and BHEL.

The company currently manufactures EMU coaches, road rollers, wagons, cranes and fabrication.

The company will manufacture 800 wagons in 2007-08 compared to 476 in the previous fiscal.

The company already received Rs 85 crore orders in the current fiscal.

Meanwhile, the company chairman said the turnover of the company was recorded at Rs 87.37 crore in 2006-07 while the net profit was Rs 11.07 crore.

UNI