Titagarh Rail Systems Begins Export of Traction Converters with First Shipment to Italy

Titagarh Rail Systems Limited (TRSL) has commenced the export of traction converters, pursuant to which the first batch of 8 converters were shipped to Titagarh Firema S.p.A (Titagarh Firema), Italy on July 19, 2024. The said export is part of a EUR 7.18 million (INR 65 Crore Approx.) order received by TRSL from Titagarh Firema and marks the first rollout of traction converters from Passenger Rolling Stock Facility of Titagarh, India.

Titagarh Firema received an order from Regione Lazio, Italy, for the design, manufacture and supply of 38 trainsets for a total value of approximately EUR 276 Million, with a design speed of 100 kmph.

Titagarh received the order from Firema, Italy to supply traction converters for the first batch of 11 trains to Regione Lazio Viterbo line, operating at 3 KV, and the Regione Lazio Lido line, operating at 1.5 KV. TRSL plans to ship two train sets, or eight converters, each month to complete the order.

Titagarh India is proud to announce the successful production and indigenisation of these converters. The design was expertly handled by Titagarh's Italian associate, Titagarh Firema, showcasing a seamless partnership between the entities. This collaboration has laid a robust foundation for the manufacturing systems and processes for such highly technological items in Uttarpara.

The Titagarh India Passenger Rolling Stock Facility currently has a manufacturing capacity of 25 converters per month, which it plans to increase to 50 converters per month, including Mainline Electric Multiple Unit (MEMU) and Electric Multiple Unit (EMU) converters.

Speaking on the occasion, Shri. Prithish Chowdhary, Dy. Managing Director, TRSL, said, "This milestone demonstrates Titagarh's commitment to quality and innovation in the railway manufacturing industry and is a major accomplishment for the Company. It underscores our unwavering commitment to making India a global manufacturing hub for railway systems, contributing to the vision of a Viksit Bharat (Developed India)."

As this projects marks the first export of Traction equipment from India to Firema, Mr. Luigi Traettino, President, Titagarh Firema, said, "It gives us great pleasure to receive these converters from India. It is a testament to our commitment towards strengthening Indo-Italian relations , which we are proud to be flag-bearers of. We look forward to exploring more synergies for the future of this relationship."

Sharing his views on this milestone, Mr. Vijay Subramanian , CEO, Titagarh Firema, said, The Lazio project is an extremely prestigious project for us, and receiving such critical items from our colleagues in Titagarh Rail Systems, India gives me a great sense of pride. We look forward to working on this relationship further to continue providing high quality, best cost systems to all our clients."

Shares of Titagarh Rail Systems Limited was last trading in BSE at Rs. 1587.85 as compared to the previous close of Rs. 1622.75. The total number of shares traded during the day was 79937 in over 8455 trades.

The stock hit an intraday high of Rs. 1645.45 and intraday low of 1460.00. The net turnover during the day was Rs. 125285611.00.

Source : Equity Bulls

Keywords

TitagarhRailSystems INE615H01020 Exports Italy TractionConverters