Titagarh Wagons is reportedly planning to manufacture cost-effective diagnostic solutions for signalling and safety systems for Indian Railways. The development of the new offerings is likely to materialise over the next one year. The company intends to leverage India as its manufacturing hub. Exports also are expected to grow this fiscal.
Recently, the company entered into a memorandum of understanding with MERMEC of Italy for setting up a 50:50 joint venture company for development and manufacture of these offerings. MERMEC and Titagarh will jointly invest in R&D and manufacturing.
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.