Kolkata: Titagarh Rail Systems Ltd would invest ₹1,000 crore in its consortium with BHEL Ltd called Titagarh Rail Systems-Bharat Heavy Electricals Ltd that has won the award to supply 80 Vande Bharat trains to Indian Railways and also maintain them over a period of 35 years.
“Of the total ₹1,000 crore, we have raised ₹288.8 crore through preferential allotment of shares to Smallcap World Fund Inc. of the rest, the plan is to raise funds through internal accruals and debt, if needed,” Umesh Chowdhary Vice Chairman & MD at Titagarh Rail Systems.
Chowdhary added that the company will start supplying these wagons to Indian Railways starting June 2025 and will supply all 80 trains by 2029.
He added that it is ₹24,000 crore worth of contract of the total ₹10,000 crore will be for supplying these trains, which will be first sleeper Vande Bharat trains, and the rest will be for maintenance over a period of 35 years.
