The US-based FreightCar America, which is engaged in the manufacture of railroad freight cars has entered a 51:49 joint venture with India-based Titagarh Wagons for developing new freight wagons for the Indian market.
The joint venture agreement was signed at the Writers’ Buildings in the presence of West Bengal chief minister Buddhadeb Bhattacharjee.
The Memorandum of Understanding (MoU) for this project was signed in December 2006. Under the terms of the joint venture agreement, FreightCar America and Titagarh will initially develop prototype cars based on FreightCar America's designs and 'assess the market opportunity in India.
Paramashish Ghosh Roy has more on the story