As part of this agreement, Lucchini RS will obtain a 15% equity interest in Jupiter Tatravagonka Railwheel Factory (JTRWF), while SIMEST, an Italian governmental financial entity, will secure an extra 10% stake. The total acquisition of 25% is valued at around €28 million.
According to the company, this partnership aims to establish India’s first fully integrated private-sector railwheel manufacturing ecosystem, encompassing the entire value chain from raw material processing to the production of railway wheels, axles, and wheelsets. It leverages Jupiter Wagons’ manufacturing strengths alongside Lucchini RS’s expertise in railwheel technology, engineering, and metallurgy.
The collaboration is anticipated to bolster India’s domestic rail manufacturing capabilities, positioning the nation as a competitive player in the global market for high-value railway components. Through JTRWF, the partners intend to serve the expanding Indian railway sector while building an export platform to better integrate India into international railway supply chains.
This partnership has the support of the Italian Government under the Sistema Italia initiative. SIMEST will act as an equity investor, while CDP will offer financial and advisory assistance to Lucchini RS.
The integrated platform of JTRWF combines its operational facility in Chhatrapati Sambhajinagar with a greenfield manufacturing site currently being developed in Odisha. Once fully operational, the Odisha facility will facilitate comprehensive production of railway wheels, axles, and wheelsets, establishing it as India’s sole fully integrated private-sector railwheel manufacturing site.
On Monday, shares of Jupiter Wagons closed 1.47% higher at ₹263 on the NSE.
