GE India in strategic tie-up with Titagarh Wagons

Tuesday, 24 July 2007, 07:00 Hrs
Printer Print Email Email
New Delhi: GE Equipment Services, part of GE India, Monday announced a strategic tie-up with Indian wagon-maker Titagarh Wagons Ltd. (TWL) to develop and upgrade India's railway infrastructure. GE Equipment Services, which picked up 15 percent equity in Kolkata-based TWL, would also become its preferred provider of vendor financing. "This partnership would be a major step towards our efforts in increasing our footprint in India. We are going to make many such strategic partnerships and investments that would advance India's infrastructure," Dhananjay Nalawade, president of GE Equipment Services, told reporters here. Reiterating the company's vision to become a $8 billion entity by 2010, Nalawade said a major portion of the revenue would be contributed by the Equipment Services business. "Our alliance with GE is to offer innovative value added proposition to the ultimate customers," said Umesh Chowdhary, managing director, TWL. "We would also explore other business opportunities through this tie-up like exporting wagons to other countries where GE already has wagon fleets operating," Chowdhary added.
Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..