Kolkata, Aug. 28 -- Texmaco Rail & Engineering Ltd has entered into a joint venture (JV) with Rail Vikas Nigam Ltd (RVNL) to strengthen India's railway modernisation efforts and enhance export potential.

The partnership aims to manufacture a wide range of rolling stock, including wagons, locomotives, coaches, trainsets, and metro coaches.

In addition, the JV will undertake engineering, procurement, and construction (EPC) projects, manage depots, and participate in international tenders.

Under the agreement, Texmaco, part of the Adventz Group, will hold a 49% stake, while RVNL, a Navratna public sector enterprise, will retain majority ownership. The transaction is expected to conclude by December 2025, pending regulatory approvals.

The...