Texmaco Rail & Engineering secures USD 135 million international contract

Texmaco Rail & Engineering Limited has announced the receipt of a Letter of Award valued at USD 135 million from Tsiko Africa Logistics (Pty) Ltd in collaboration with Barberry Holdings (Pty) Ltd. The contract involves the design, manufacture, supply, and commissioning of Wabtec ES43ACi – 4,500 HP Diesel-Electric Locomotives, marking a significant achievement for the Indian engineering giant.

This substantial international order exemplifies Texmaco Rail's growing global footprint and expertise in diesel-electric locomotive technology. According to the regulatory filing submitted by the company, the project is set to be executed within a timeframe of 20 to 24 months following the signing of the definitive agreement. This timeline underlines the company's commitment to timely delivery and its capability to handle complex engineering projects effectively.

Importantly, the contract, which is exclusive of applicable taxes and duties, strengthens Texmaco Rail's position in the international market, reflecting the confidence of global entities in its engineering capacities. The project does not involve any interest from Texmaco's promoter group or related parties, ensuring that the transaction is conducted independently and at arm's length, showcasing the company's adherence to ethical business practices.

With no domestic counterpart involved in the bidding process, this purely international award marks a significant milestone for Texmaco Rail & Engineering Limited as it continues to expand and enhance its portfolio in the global rail equipment manufacturing sector.

TEXRAIL, the company's symbol on the National Stock Exchange of India, indicates its commitment to operational excellence and growth in international markets. This latest development is poised to further boost confidence among investors and stakeholders, reinforcing the company's strategic objectives and enhancing its reputation as a leader in railway engineering solutions.