Jupiter Wagons Ltd has announced acquisition of Bonatrans India Pvt Ltd. for Rs 271 crore.
The company in a statement on Wednesday said this move positions JWL as the first rolling stock manufacturing company to have its own wheel plant.
BIPL, situated in Aurangabad, Maharashtra, is a manufacturer of rolling stock wheel sets.
"This strategic move not only strengthens our position as an innovative leader in integrated mobility solutions but also propels us towards becoming a comprehensive rolling stock manufacturer," Vivek Lohia, Managing Director of Jupiter Wagons said.
As part of the Make in India initiative, JWL is poised to invest an additional 1,000 crore over the next two years, the company said.
Jupiter Wagons Ltd. is a leading provider of comprehensive mobility solutions spanning rail, road, and marine transportation.
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