Somani ties up with German firm, to produce railway equipments

New Delhi, Aug 24 (UNI) Somani Group, a Rs 2,000 crore business house today said it has signed an MoU with Germany-based ThyssenKrupp GfT Gleistechnik for manufacturing railway equipments.

The proposed joint venture (JV) company will have Indian Railways as their major customers and after their approval the products will be imported but subsequently suitable production facility for the same will be set up on Indian shores.

The JV company will be head quartered in the National Capital.

The products and services offered by the joint venture will benefit the railways in their modernisation, upgradation and expansion plans, a statmente said.

Somani Group diversify in the field of steel, raw materials, ferro alloys, electrodes, engineering and technology, wind energy, education and research.

UNI