Titagarh Wagons inks JV pact; sets up Singapore subsidiary

New Delhi, Sept 15 (UNI) Titagarh Wagons Ltd today said it has entered into a joint venture (JV) with Sponsor Group of Cimmco Birla (CBL) for the revival and appropriate funding of CBL.

CBL has already filed the draft of the rehabilitation scheme with the board for Industrial and Financial Reconstruction (BIFR) regarding the same, a company statement said.

With a view to build international presence, the company has also set up a wholly-owned subsidiary company in Singapore. It has gone ahead and entered into an agreement with Non Banking Financial Company (NBFC) in order to build an edge in financing opportunities.

Titagarh Wagons is one of the leading private sector wagon manufacturers in India. The company manufactures a wide range of wagons including hopper, covered, open top, container flat, tank, flat and special purpose wagons besides other offerings.

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