Bharat Heavy Electricals Limited (BHEL) has entered into a Joint Venture Agreement with Titagarh Rail Systems Limited (TRSL). This new entity, to be incorporated as a private limited company, will focus on the comprehensive maintenance of Vande Bharat Sleeper Trainsets for 35 years. BHEL and TRSL will each hold a 50% stake in the joint venture, with an initial paid-up capital of INR 50,00,000. The JV aims to leverage combined strengths for operational readiness, safety, and reliability of the trainsets.
BHEL and Titagarh Rail Systems Forge Joint Venture
Bharat Heavy Electricals Limited (BHEL) announced today, September 15, 2026, the signing of a Joint Venture (JV) Agreement with Titagarh Rail Systems Limited (TRSL). This strategic partnership is designed to establish a new company focused on providing comprehensive maintenance services for the Vande Bharat Sleeper Trainsets over a period of 35 years.
Joint Venture Structure and Objectives
The newly formed joint venture company will be incorporated as a Private Limited Company. Both BHEL and TRSL will hold an equal 50:50 shareholding in this new entity. The initial paid-up share capital is set at INR 50,00,000 (Fifty Lakh Rupees). The registered office of the JV will be located in the state of Delhi. Each partner will nominate Two Directors to the JV’s Board, ensuring balanced governance and strategic direction.
Scope and Rationale
The primary objective of the JV is to ensure the long-term operational readiness, safety, and reliability of the Vande Bharat Sleeper Trainsets throughout their 35-year service life. This collaboration aims to leverage the combined technical expertise and strengths of both BHEL and TRSL to deliver high-quality maintenance solutions. The agreement is considered a domestic arrangement, and neither BHEL nor TRSL are considered related parties in this context.
Source: BSE
