Titagarh Rail joins hands with Amber Group to build railways parts in India and EU

Kolkata-based Titagarh Rail Systems has teamed up with the Amber Group from Delhi to venture into the railway component and subsystem business. The companies have formed a special purpose vehicle (SPV) aimed at enhancing their presence in both India and Europe.

In a conversation with CNBC-TV18, Umesh Chowdhary, the Vice Chairman and Managing Director of Titagarh Rail Systems, said the deal is designed to create new opportunities for them in Europe. The focus will be on manufacturing subsystems and train interiors in India and the European Union (EU).

“The announcement that was made was for two ventures that we are doing together. One is the existing venture, Titagarh Firema, where we are bringing in Amber Group as a co-investor. This move will enable them to access the Italian market through Firema, similar to how Titagarh Rail has acquired technology and gained market access for its products. Additionally, we are setting up a joint venture in India for subsystems, catering to both the Indian and European markets,” Chowdhary said.