Titagarh Wagons (TWL) is planning to foray in the shipbuilding business.
The company’s board has given an in-principle decision to approve a proposal entering into marine shipbuilding through new investment / acquisition. With this development, Titagarh Marine (TML), a group company, is likely to become a subsidiary of TWL in the near future. TML will take up two West Bengal based proposed projects worth around Rs 650 crore and TWL will make the appropriate investment to be the promoter of TML. The first of two will be located at Kankinara and it will for building offshore supply vessels. The second one for constructing ocean going vessels is to be located at Kulpi.