Hyderabad, India (Urban Transport News): Hyderabad-based Medha Servo Drives Pvt Ltd has recently entered into a joint venture (JV) with Swiss railway rolling stock manufacturer Stadler Rail for the set-up of a rail coach manufacturing facility in Telangana. The JV will invest over Rs 1,000 crore over a period of two years which is expected to create employment for over 2,500 people in the state.
Stadler Rail will hold the majority stake in this joint venture. The proposed manufacturing will not only use to cater to their tenders not only from the Indian market but also exports to customers across the Asia Pacific region as well, according to the officials.
The announcement was made in the presence of Telangana industries minister KT Rama Rao and Stadler Rail executive vice president for sales & marketing Ansgard Brockmeyer at the Telangana lounge at the World Economic Forum at Davos on May 25, 2022.
“I am extremely delighted that Stadler chose Hyderabad as their primary location for rail coach manufacturing for the complete APAC region in partnership with Medha Servo. This will show the world the potential that Hyderabad has, to match global investment destinations in terms of quality of talent and output,” said KT Rama Rao.
“This unit will be one of the most important centres for us as we plan on scaling up activities in India and in the APAC region. We are very happy with the support provided by the government and look forward to more business out of the region,” commented Ansgard Brockmeyer.
In January 2021, Medha Servo Drive Pvt Ltd had bagged an order worth Rs 2,211 crore from the Indian Railways for the design, development, manufacture, supply, integration, testing and commissioning of various equipment for 44 Vande Bharat type train sets of 16 coaches each.
Medha Servo had also bagged another contract worth Rs 590 crores from the Mumbai Metropolitan Region Development Authority (MMRDA) for the supply of 10 monorail rakes for Mumbai Monorail.