Texmaco against too many wagon-making units
August 12th, 2010 - 9:51 pm ICT by IANS
Kolkata, Aug 12 (IANS) Railway Minister Mamata Banerjee’s decision to set up four wagon making units announced in the Railway Budget for 2010-11 may not be favourable for Texmaco, an official said Thursday.
“I have written to Banerjee requesting her to ensure that capacities of existing private sector wagon making units should be utilised to the fullest before the ministry starts work on new wagon facilities,” company chairman Saroj Poddar told shareholders at the annual general meeting.
Banerjee had said that she proposed to set up five state-of-the-art wagon factories in Secunderabad, Bardhaman, Bhubaneshwar/Kalahandi, Guwahati and Haldia.
City-based wagon-maker Texmaco has demerged its core wagon making and steel foundry business to Texmaco Rail and Engineering Ltd and retained the real estate business with itself.
The demerged entity is planning to venture into setting up logistics for the tailways through foreign collaboration, said Ramesh Maheshwari, the executive vice chairman.
Texmaco Ltd is planning to do mixed-use real estate development consisting of commercial and residential units in Delhi, Poddar said.
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- Texmaco to make Metro coaches with Japanese firms - Jul 23, 2009
- Texmaco to hive off manufacturing business - Aug 11, 2008
- West Bengal's industry welcomes railway budget - Feb 25, 2011
- Railways to recruit around 3 lakh people: Mamata Banerjee - Feb 05, 2011
- West Bengal wagon makers rejoice over rail budget - Jul 03, 2009
- Texmaco's net profit up 39 percent in Q1 - Jul 27, 2010
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- Bangladesh Railway signs $16.45mn contract with Indian firm - Jul 04, 2011
- Railways will bring industrial boom in the country: Mamata - Nov 16, 2010
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Tags: annual general meeting, company chairman, estate business, executive vice, factories, foundry business, guwahati, haldia, logistics, mamata banerjee, poddar, private sector, railway budget, railway minister, residential units, saroj, shareholders, steel foundry, vice chairman, wagon maker