Titagarh Wagons has entered into a Memorandum of Understanding (MoU) with MERMEC S.p.A., Italy (MERMEC) for setting up a Joint Venture Company (JVC) for development, manufacture of cost effective diagnostic solutions for signaling and safety systems for Indian Railways. The JVC will be incorporated in India with equal stake i.e. 50% each of the company and MERMEC.
The technology for the products will be provided by MERMEC, a leading player in railway diagnostics. The MoU will see MERMEC and Titagarh jointly invest in R&D and manufacturing to develop cost effective solutions for signaling and safety of Indian Railways.
Titagarh Wagons is engaged in the business of manufacturing Railway Wagons, EMU (Rail Coaches), Bailey Bridges, Heavy Earth, Moving and Mining Equipment, Steel and SG iron castings of moderate to complex configuration etc.
