Texmaco Rail & Engineering Limited, part of Adventz Group, a key player in the railway & infrastructure sector, has formed a JV with Rail Vikas Nigam Limited (RVNL), aiming to build India’s next-gen rolling stock powerhouse and expand global railway EPC footprint. The two partners formalised their strategic partnership by signing a joint venture shareholders’ agreement to form a new entity called Rail Gati at a ceremony in New Delhi.
“The alliance brings together Texmaco’s industrial manufacturing scale and export reach and RVNL’s proven track record in executing complex rail EPC projects, creating a powerful institutional platform aligned with the government’s Aatmanirbhar Bharat vision,” says Saroj Kumar Poddar, chairman, Texmaco Rail & Engineering, commenting on the JV. The signing of the agreement formally launches this next phase of collaboration, establishing a unified platform capable of delivering sustainable, scalable and future-ready rail solutions for India and the world. While Texmaco holds a 49 per cent stake, RVNL retains the majority ownership. The partnership is structured to leverage public-sector execution depth with private-sector manufacturing agility. RVNL is a public-sector enterprise (a Navratna) under the ministry of Railways, primarily engaged in implementing rail infrastructure projects.
“This partnership represents a transformational step in building globally competitive rail capabilities from India,” affirms Indrajit Mookerjee, vice-chairman & executive director, Texmaco. “By aligning manufacturing excellence with execution expertise, we are creating a platform that can deliver integrated rail solutions for both national priorities and international markets.”
The joint venture will focus on advanced rolling stock segments, lifecycle maintenance and asset management solutions and large-scale EPC and turnkey infrastructure projects in India and overseas markets.
This joint venture represents a unique public-private partnership, aligned with the government’s pursuit of excellence and the leadership’s dynamic vision of Aatmanirbhar BharatSudipta Mukherjee, managing director, Texmaco
“This joint venture represents a unique public-private partnership, aligned with the government’s pursuit of excellence and the leadership’s dynamic vision of Aatmanirbhar Bharat,” explains Sudipta Mukherjee, managing director, Texmaco. “It reflects our shared commitment to shaping the future of rail mobility through next-generation freight, locomotive, passenger and metro systems. The collaboration will accelerate innovation, strengthen export competitiveness and reinforce India’s position on the global rail map,” he adds.
A strategic platform
“This JV is not merely a corporate collaboration but a strategic platform for national infrastructure advancement,” asserts Saleem Ahmad, chairman & managing director, RVNL. “It will unlock long-term value through scale, technology adoption, and global project participation.”
The initiative is designed to catalyse India’s emergence as a global hub for rolling stock and rail infrastructure by promoting technology indigenisation, localisation of supply chains and export-ready platforms compliant with international safety and performance standards.
The venture will also actively pursue projects across Asia, Africa and the Middle East, targeting integrated rail manufacturing and infrastructure contracts and reinforcing India’s position among the world’s leading providers of end-to-end rail solutions. By combining design innovation, execution speed, and engineering excellence, the Texmaco-RVNL partnership is expected to play a pivotal role while strengthening India’s global industrial footprint.
Texmaco has historically focused on freight wagons, foundries and infrastructure projects over the past eight decades. Its freight cars serve a host of core industries like cement, steel, defence, fertilisers, oil, alumina, thermal power projects, chemical plants, etc, in the government and private sector. Over the years, the Rs5,000 crore company has entered into technical collaborations with renowned multinationals of Japan, the US, the UK, Germany, Australia, Austria, the Netherlands, etc, for developing and expanding its product portfolio. The company has reported consolidated quarterly net sales of Rs1,041.60 crore and a net profit of Rs42.84 crore as on December 2025. Its shares go for Rs105.30 on NSE now.
It is for the first time that the company has forayed into the manufacturing of passenger rolling stock. It will design and make passenger coaches, locomotives and metro systems.