Titagarh Rail Systems (TRSL), Ramkrishna Forgings (RKFL) and Ramkrishna Titagarh Rail Wheels (RTRWL), a joint venture (JV) company, which is incorporated by the company in consortium with RKFL, have signed shareholders agreement on 02 August, 2023.
RTRWL has been incorporated by the consortium for the execution of the project 'Manufacturing and Supply of Forged Wheels' under long-term agreement under 'Aatma Nirbhar Bharat' initiative by Ministry of Railways.
Presently, the shareholding of TRSL and RKFL in RTRWL, JV is equal (i.e. 50 percent each).
In addition, TRSL and RKFL need to fund the JVC in accordance with the said agreement and other standard terms and conditions applicable to a shareholders’ agreement for operation and management of JV.