Texmaco signs 50:50 JV with Australian firm

K K Birla's Texmaco has signed a memorandum of agreement (MoA) with United Group, a $4 billion Australian infrastructure and industrial services company.

The proposed 50:50 joint venture will cover design, manufacture and supply of wagons, locomotive boggies and components, and also cover passenger rolling stock.

The MoA was signed in the presence of Chief Minister Budhdhadeb Bhattacharjee.