Titagarh Rail Systems Ltd. Approves Joint Venture with BHEL for Vande Bharat Train Maintenance

Titagarh Rail Systems Ltd. (TRSL) announced the outcome of its Board Meeting held on 19th March, 2026. The Board approved the formation of a Joint Venture Company with Bharat Heavy Electricals Limited (BHEL) to handle the maintenance obligations of Vande Bharat Trains to be supplied by the TRSL-BHEL Consortium. This move is in accordance with the Manufacturing-cum-Maintenance Agreement (MCMA) under the Make-in-India initiative for the Atma Nirbhar Bharat program of the Government of India. The Joint Venture Agreement (JVA) is subject to regulatory approvals. The Board also approved furnishing a corporate guarantee in favor of Oil and Natural Gas Corporation Ltd. (ONGC) for Titagarh Naval Systems Limited (TNSL), a Wholly Owned Subsidiary of TRSL, for bidding in a tender floated by ONGC.