Oriental Foundry signs MoU with Hum Industrial for 346 Smart Wagon bid

Oriental Rail Infrastructure Ltd's wholly-owned subsidiary, Oriental Foundry Private Limited (OFPL), has entered into a Memorandum of Understanding (MoU) with Hum Industrial Technology, Inc., USA. This MoU is exclusively for jointly participating in a tender invited by the Research Designs and Standards Organisation (RDSO), Ministry of Railways, Government of India. The tender is for the "Smart Wagon – Bearing & Wheel Health Monitoring Module" project, involving 346 units. OFPL will act as the lead member in this joint venture bid, which has already been submitted. Should the project be awarded, the parties intend to establish a dedicated joint venture company in India, named "Hum Oriental Systems Private Limited," with OFPL holding a 51% stake and Hum Industrial Technology, Inc. holding 49%.