Texmaco to form SPV for metro coach manufacturing

Kolkata, Jul 18(UNI) Kolkata-based K K Birla Group company Texmaco Limited has planned to enter metro coaches manufacturing sector and would float a SPV with majority stake holding for this venture.

Speaking on the sidelines of the 67th AGM of the company, Texmaco Executive Vice-Chairman S K Poddar said, ''We are scouting for an international partner for technical collaboration in this venture.

We will take a final call on this matter within the next six months.'' The company has plans to invest Rs 225 crore in the next two years, he said adding that a part of it would be invested for manufacturing coaches.

BEML, Jessop and BHEL are also planning to enter the metro coach manufacturing for Delhi Metro Corporation.

Meanwhile, Mr Poddar said the company will invest in new general freight car in association with an international partner.

''We are in talks with world's largest freight car manufacturing company Trinity for this venture. The deal is likely to be finalised within three to four months,'' he said.

The company would increase its steel foundry manufacturing unit from existing 15,000 tonne to 25,000 tonne.

Texmaco Board has also approved a Rs 1000 crore Food Park project proposal at Sankrail with join venture partner LMJ International.

UNI