TWL looking for land for shipping unitJuly 28th, 2011 - 1:55 am ICT by IANS
Kolkata, July 28 (IANS) Kolkata-based Titagarh Wagons Limited (TWL), a heavy engineering and infrastructure company, is looking for around 400 acres of land near Kulpi in West Bengal’s South 24 Parganas district to foray into shipping industry, a top executive of the company said Wednesday.
“We are exploring the possibility. Once the nitty-gritties are worked out, we can come out with more details. We have identified some area and are also in the process of acquiring some land near Kulpi,” said TWL executive chairman J.P. Chowdhary on the sidelines of the 14th AGM here.
The company has around 60 acres of land near Kakinara.
“Units in Kulpi and Kankinara will be under an integrated project. Once we decide on the shipyard, we will start work on the Kakinara facility. A small portion of land has been acquired near Kulpi. The detailed study on the Kulpi project is under progress,” Umesh Chowdhary, vice-chairman and MD, TWL, said.
For the Kakinara unit, the company is looking for a partner and a number of companies are interested.
TWL’s acquisition in France, with a manufacturing capacity of 5,000 wagons per annum, has started its production. Titagarh Wagon AFR, the French unit, has a confirmed order book of 30 million euros with an option of another 15 million euros.
The company is also close to bag orders worth another 30 million Euro.
“Within three months, we have turned around. French railways and old customers have reposed faith. New ones are adding up,” the managing director said.
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Tags: 30 million, agm, annum, chowdhary, executive chairman, foray, french railways, french unit, heavy engineering, infrastructure company, integrated project, s south, shipping industry, shipyard, sidelines, small portion, top executive, twl, vice chairman, west bengal