Titagarh Wagons sails against big players, on course to bagging 1st contract from Navy
Titagarh Wagons Ltd, which recently merged its shipbuilding subsidiary into itself, is on its way to signing its very 1st contract from the Indian Navy in competition with big and established players in shipbuilding industry. Post-acquisition by the Company, another big-ticket order for TWL’s Italian subsidiary- Titagarh Firema Adler S.p.A.; Group order book swells to about INR 3100 crore with this order.
The Group is actively pursuing more orders to consolidate its leadership in freight and passenger segments of Railways along with the shipbuilding business.
TWL participated in a Tender floated by the Indian Navy for manufacture of vessels and competing with the big players including large PSUs and private sector shipyards in the industry, and emerged winner. The order for building of two 1000T Oil Tankers to be delivered within 21 months from signing of contract, is worth about Rs. 75 Crore.
The order is prestigious one particularly as it has been awarded by the Indian Navy. The Group had acquired the requisite accreditations in shipbuilding through merger of its subsidiaries, Titagarh Marine and Corporated Shipyard into itself. Post this merger, TWL is now approved as a shipbuilder by Indian Navy, Shipping Corporation of India among others. Further, TWL has participated in other tenders for shipbuilding where results are expected shortly.
Titagarh Firema, the subsidiary of Titagarh in Italy has also secured a new contract for about 70 million Euro for design, supply and installation new traction system and fire protection system in the existing fleet of Trenitalia. The delivery is to be completed within 55 months.
With this order the Group’s total order book now stands at about Rs 3100 crore. This includes orders for export of Wagons by TWL valued at Almost 100 crore with technology and designs provided by Titagarh Wagons AFR (TWA)- TWL’s subsidiary in France, and Titagarh is confident of further expanding the Group’s footprint overseas.