en.Wedoany.com Reported - Jupiter Wagons has announced the formation of a joint venture with Italy's Lucchini RS Holding and SIMEST to establish India's first private integrated railway wheel manufacturing platform. The joint venture will combine Jupiter Wagons' manufacturing operations in India with Lucchini RS's engineering and metallurgical technologies, boosting domestic production of railway wheels, axles, and wheelsets while building an export base for the global market, with production covering the complete cycle from raw material processing to finished components.

In terms of shareholding structure, Lucchini RS will hold a 15% stake in Jupiter Tatravagonka Railwheel Factory, with SIMEST acquiring an additional 10%, bringing the joint venture partners' total shareholding to 25%. The total investment amounts to approximately €28 million, equivalent to around ₹3.0726 billion. SIMEST, supported by the Italian government, joins as an equity partner, with Cassa Depositi e Prestiti providing financial and advisory support, and the arrangement is included under the assistance mechanism within the framework of the Sistema Italia initiative.

The manufacturing platform will consolidate the existing Jupiter Tatravagonka Railwheel Factory site in Chhatrapati Sambhajinagar with a new facility under construction in Odisha, enabling end-to-end production. Once the Odisha plant becomes operational, the combined facilities are expected to fully self-manufacture railway wheels, axles, and wheelsets, covering the entire process from material processing, heat treatment, machining, and assembly to finished wheelsets, making the company India's only fully integrated private railway wheel manufacturing platform. The joint venture partners plan to adopt European technologies and processes within the Indian manufacturing environment to meet the needs of Indian Railways and other domestic customers, while also expanding international export capabilities. Jupiter Wagons stated that this collaboration will enhance India's self-sufficiency in producing critical railway components, reduce dependence on imports, and serves as another example of foreign partners localizing specialized railway supply chains and supporting the growth of India's manufacturing sector.