Texmaco Rail & Engineering Ltd. announced receiving a significant order worth Rs. 357.11 crores from the JSW Group. The contract is for the Manufacture and Supply of specialized railway components, including BLSS, BLCS, and BFNV Rakes, alongside BVCM Wagons. This domestic order is scheduled to be executed over a period of 11 months from the effective start date, reinforcing Texmaco’s role in supplying crucial rolling stock to major industrial conglomerates.
Award of Significant New Contract
Texmaco Rail & Engineering Ltd. has confirmed the receipt of a substantial order from the JSW Group. The total consideration for this contract amounts to Rs. 357.11 crores (excluding applicable taxes). This announcement is made pursuant to regulatory requirements concerning material events.
Contract Details and Scope
The core nature of the contract involves the Manufacture and Supply of specialized rolling stock components. Specifically, the agreement covers the supply of BLSS, BLCS, and BFNV Rakes along with accompanying BVCM Wagons. The terms confirm this is a Domestic contract, with no involvement from international entities.
Execution Timeline
The timeline stipulated for the completion of the order is clearly defined. The contract term requires execution within a period of 11 months from either the effective date or the date of commencement of works, whichever applies.
Related Party Disclosure
In line with corporate governance standards, the company has confirmed that neither the promoter/promoter group nor any group companies have any interest in JSW Group, the awarding entity. Furthermore, the contract is not considered a related party transaction, affirming that any transaction conducted between the parties would be at “arm’s length.”
Source: BSE
