Jupiter Wagons Limited, one of the largest manufacturers of railway wagons, components and castings, has announced that its subsidiary Jupiter Tatravagonka Railwheel Factory Private Ltd (JTRF) has purchased land in Haldiapada, Khordha, Odisha to announce India’s first private-sector railwheel and axle forging plant.
This is a major milestone in India’s railway manufacturing journey and Odisha has become the new growth engine for high-tech industrial development. The new facility would be the first private railway heavy engineering industry in Odisha, contributing enhanced role of the State in Railway infrastructure development.
Jupiter Tatravagonka will make an investment of ₹2,500 crore in phases in the next few years to set-up a state-of-the-art manufacturing unit.
The facility will have an annual production capacity of 100,000 forged wheel sets, which will be sold in the domestic market as well as for exports. Approximately 50% of production will also be exported mainly to Slovakian rail infrastructure company Tatravagonka A.S., along with other European companies.
The project is being implemented under the Invest Odisha programme which is a part of theāInvest Indiaāinitiative for attracting large-scale industries investment in the state.
Land for the facility has been procured through an allocation from the IDCO land bank, with all requisite approvals from Ministry of Environment, Forest, and Climate Change (MOEF) as well as legal clearance obtained.
The Khordha industrial zone, 30 km away from the nearest airport has also been specifically developed by the IDCO to house class apart global industrial projects. It is due to be operational by 2027 and will help strengthen the railway manufacturing ecosystem in India.
The project is in line with the Indian government’s vision of ‘Make in India’ and ‘Atmanirbhar Bharat’ as it will enhance local production of crucial railway components thereby significantly reducing India’s dependency on imports. The facility will create thousands of direct and indirect jobs, contributing to Odisha’s industrial development and growth.
Providing high-tech manufacturing capability, the plant will produce advanced railway components dedicated to high-speed up in operations, as well as high workloads in railway applications. The strategic partnership will firmly place India on global trade map in the railway domain and strengthen self-reliance in strategic railway infrastructure by boosting exports to European markets: Jupiter Tatravagonka.
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.