In a bid to expand operations, the firms have proposed to invest a total of Rs 25,000 crore in this project, with an initial investment of Rs 7,000 crore earmarked for the first phase.
Titagarh Wagons and Ramakrishna Forgings Company, both based in West Bengal, have approached the Yamuna Expressway Industrial Development Authority (YEIDA) with a request for the allocation of 100 acres of land in Gautam Buddha Nagar.
The purpose of this land allocation request is to establish a manufacturing facility for the production of coaches intended for the Vande Bharat trains, as per reports.
At present, these two companies are engaged in the production of coaches and wheels for the Vande Bharat in West Bengal.
In a bid to expand its operations, they have proposed to invest a total of Rs 25,000 crore in this project, with an initial investment of Rs 7,000 crore earmarked for the first phase.
Following the reports, Anil Kumar Agarwal, director of Titagarh Wagons, and Lalit Kumar Khaitan, executive director and chief financial sfficer of Ramakrishna Forgings Limited, recently held a meeting with Dr Arun Vir Singh, CEO of Yamuna Expressway Industrial Development Authority (YEIDA).
During the meeting, they expressed their interest in establishing a manufacturing facility within the jurisdiction of YEIDA.
The land designated for the project is situated in Sector-10 of the Yamuna Authority.
Officials from both companies have examined the site and expressed their interest in pursuing the project.
Following due consideration of the proposal, YEIDA will allocate the land under mega-investments.
Additionally, the authority has advised the companies to submit an application to the government for the allotment of the land, with oral consent having been granted.
At present, the manufacturing firms are producing 800 rail coaches annually and manufacturing rail wheels in West Bengal.
YEIDA had earlier in 2020, also allocated 25 acres of land in Noida Sector-32 to PPS International Company for the manufacturing of metro coaches.
The company acquired the land for around Rs 44 crore, and the factory is projected to produce up to 100 metro coaches every year.