August 10th 2023.
Hindalco Industries Ltd. and Texmaco Rail & Engineering Ltd. have come together to bring about a strategic alliance with the common goal of developing and manufacturing world-class aluminium rail wagons and coaches to help Indian Railways reach their emission goals and optimize their operating efficiency.
The mission of the Indian Railways is to double their freight capacity to 3,000 million tons by 2027, which is why they are actively seeking to improve their wagon designs and inviting wagon manufacturers to contribute their own designs to increase capacity and the life of railway assets.
Hindalco and Texmaco have joined forces to explore potential opportunities, with Hindalco providing their unique aluminium alloys, fabrication, and welding expertise. The company has already launched a 180-ton-lighter aluminium rake last year which offers 19 percent more payload to tare weight ratio and consumes less energy with minimal wear and tear.
Texmaco, who have had 80 years of experience in manufacturing freight cars, will be responsible for the design of the factory, production line, and providing skilled workers.
Satish Pai, Managing Director of Hindalco Industries, expressed his enthusiasm for the partnership and its potential to increase the value proposition for both freight and passenger mobility, as well as helping the Railways achieve their net zero objectives. Similarly, Indrajit Mookerjee, Vice Chairman of Texmaco Rail & Engineering, also commented on the partnership, showing his support for the reduction of the industry’s carbon footprint.
The shares of Hindalco Industries on Thursday at 11:41 am IST were at Rs 465.70, down by 0.68 percent.
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