India, Aug. 4 -- Jupiter Wagons Ltd (JWL) on Tuesday announced a strategic partnership with Italy's Lucchini RS Holding S.p.A. (LRS) to establish India's first fully integrated private-sector railwheel manufacturing platform.

Under the binding agreements, Lucchini RS will acquire a 15 per cent equity stake in Jupiter Tatravagonka Railwheel Factory Pvt Ltd (JTRWF), while SIMEST S.p.A., an Italian government-backed financial institution, will acquire an additional 10 per cent stake.

The combined 25 per cent investment is valued at approximately €28 million.

The partnership aims to create India's first fully integrated private-sector facility capable of manufacturing railway wheels, axles and wheelsets across the entire value chain-...