 "A decorated wagon at the inauguration of Titagarh Wagon Factory, at Uttarpara in Hooghly")
Titagarh Wagons is looking to invest close to Rs 1,000 crore over the next three to five years for capacity building in the manufacturing of wagons, coaches and foundry, a top company official said on Wednesday.
It will come up with a new foundry unit for backward integration., he said.
The company currently has a capacity of manufacturing around 8,400 wagons a year, ramping up from a mere 150 units 25 years ago.
"We have embarked on the project to manufacture aluminium and stainless steel coaches for metro and passenger trains. We are also ramping up wagon capacity to 12,000 units and envisaging total investment of around Rs 1,000 crore on our current and forthcoming projects over the next three-to-five years," Titagarh Wagons Vice Chairman and Managing Director Umesh Chowdhary said on the sidelines of the company's 25 years celebration.
West Bengal Chief Minister Mamata Banerjee attended the programme.
Also Read
She inaugurated the company's expansion of wagon capacity and propulsion production for traction motors.
The company currently has two foundry units with a combined capacity of close to 30,000 tonne. It is looking to set up a new facility with a capacity of around 70,000 tonne in West Bengal, Chowdhary said. Titagarh Wagons primarily has three business verticals - freight which includes wagons and foundry units, transit and propulsion and SBD (shipbuilding, bridges and defence).
Freight accounts for nearly 70 per cent of its total revenue, transit and propulsion contributes nearly 25 per cent, while the rest comes from the SBD division.
The company's order book stood at around Rs 11,000 crore by FY22, up from Rs 2,500 crore in the previous year.
It expects that the economic growth momentum will continue backed by infrastructure push by the government, railway corridors and metro projects.
Titagarh Wagons has facilities at Uttarpara in Hooghly, Titagarh in North 24 Parganas and Falta in South Parganas in India's West Bengal and one facility in Italy.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
