SECTOR
Titagarh Rail Systems executes Joint Venture Agreement with BHEL
Sep-15-2026

Titagarh Rail Systems (TRSL) and Bharat Heavy Electricals (BHEL) have executed the Joint Venture Agreement (JVA) for establishing a Joint Venture Company (JV Company) with shareholding in equal proportion i.e. 50% each to undertake maintenance of 80 Vande Bharat Trainsets under the Indian Railways project for ‘Manufacturing cum Maintenance of 80 Vande Bharat Trainsets including Upgradation of Government Manufacturing Units & Trainset Depots and Comprehensive Maintenance for 35 years’.

The rights, responsibilities and governance arrangements of TRSL and BHEL shall be governed by the terms and conditions of the JVA. The Joint Venture will combine the complementary capabilities and railway-sector expertise of TRSL and BHEL and provide TRSL an opportunity to establish a long-term presence in the maintenance and lifecycle-support segment of the railway industry.

The 35-year comprehensive maintenance programme is expected to enable TRSL to leverage its existing engineering, manufacturing and railway-sector capabilities and expand its participation across the rolling stock value chain from manufacturing to long-term maintenance and lifecycle support.

The Joint Venture is also expected to facilitate technical collaboration, operational synergies and efficient lifecycle management of the Vande Bharat Trainsets, while supporting the long-term objectives of Indian Railways for modern, reliable and high-quality passenger transportation.

Titagarh Rail Systems, formerly known as Titagarh Wagons, is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Steel Castings, Specialised Equipments & Bridges, Ships, Heavy Earthmoving and Mining Equipments, etc.

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