A joint venture between Adventzgroup companyTexmaco Rail & Engineering Ltd and Nymwag has been formed to create a new business with a focus on accessing the railway industry, manufacturing goods cars, and producing parts for goods cars and railway waggons for both domestic and international markets.
A member of the AZC group, Nymwag is situated in the Czech Republic. In Kolkata’s Sodepur, the joint venture will establish a manufacturing facility, according to a press release from the business.
“With its existing manufacturing units in Agarpara, Belgharia, Raipur and Panihati, Texmaco inked this partnership agreement with a 50-50 contribution from each of the companies, to bring together their strengths to increase wagon production capacity, raise production standards, and ultimately create employment opportunities for the people of Bengal,” the release said.
The venture is focused on hiring more than 650 people, including between 100-150 technically qualified staff. The collaboration will allow Texmaco to leverage Nymwag’s expertise and experience in the European market, which will benefit the Indian manufacturing industry as a whole.
