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Italy: National railway company FS Group has completed the acquisition of the subsidiary Titagarh Firema from the Titagarh Rail Systems for €41 mln.
India: The manufacturer has secured its first-ever contract for 62 self-propelled track vehicles for the inspection and maintenance of railways and catenary.
Latest deals and contracts in the LRV market.
India: The fleet of three six-car trains was put into service on 10 August. The vehicles operate at 25-minute intervals on the 19.1 km long yellow line.
India: By 2028, Titagarh Rail Systems aims to increase its annual output to up to 850 EMU cars, compared with the current level of 300 per year.
India: The company is targeting an output of over 1,000 railcars per month this financial year.
India relies on the creation and expansion of its own facilities and technology transfer with mandatory localisation under the national programme Make in India.
India: The tender of Indian Railways is over with a consortium of TMH and local RVNL selected as the winning bidder to deliver 120 Vande Bharat trains. The second batch of 80 EMUs is to be executed by Titagarh Wagons and BHEL.
Italy: The Invitalia state investment agency and a private fund from the UAE have capitalized Titagarh Firema for the development of production aimed both at Italian and international markets.