Texmaco bags 20000 Wagons Order

Texmaco Rail & Engineering on Wednesday, 11th May 2022 said it has received an order for 20,067 wagons from the Indian Railways with an order value of Rs 6,450 crore. The said order will be executed over a period of 39 months.

Texmaco’s consolidated order book at the end of the third quarter of 2021-22, including that of its subsidiaries was Rs 2,800 crore. With Railways budgeting a capital expenditure outlay of Rs 2.45 lakh crore, the company remains optimistic about executing its order book, despite concerns over raw material prices.

The Railways is reportedly looking to procure around 90,000 wagons over the next three years which will give a major boost to the wagon manufacturers, including those in Bengal.

Industry sources said a combination of the development of dedicated freight corridors that will scale the cargo handling capacity of Railways coupled with the need to replace aging wagons will be the key demand drivers.

The Railways has disposed of 3,941 wagons between April 2021 and February 2022, according to a government disclosure. There is also a growing need for improving the availability of wagons for coal supply to the power plants.