Jupiter Wagons Ltd has renamed its subsidiary from Bonatrans India Pvt Ltd to Jupiter Tatrawagonka Railwheel Factory Pvt Ltd.
According to the statement, the facility is expected to be fully operational by calendar year 2027.
"Once completed, it will serve both domestic and international markets, with approximately 50 per cent of the production capacity dedicated to exports, primarily to its partner Tatravagonka AS and other European players," it said.
This move aligns with the company's strategy to support the "Make in India" initiative, boosting India's manufacturing capabilities and strengthening the company's role in the global supply chain, it added.
The statement said the project will also enhance operational efficiency in Jupiter Wagons' wagon manufacturing business through complete backward integration.
Jupiter Wagons has awarded a contract to Schuler Pressen GmbH, a renowned German engineering company known for its cutting-edge forging technology, for the supply and erection of the fully-integrated forged wheel and axle line.
"This latest investment underscores our vision of innovation and excellence as we now aim to deliver world-class products to global markets," Jupiter Wagons managing director Vivek Lohia said.
JWL is a provider of mobility solutions, with diverse offerings across freight wagons, locomotives.
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