Titagarh Rail Systems Bags Rs 857 Crore Order From Gujarat Metro Rail

Titagarh Rail Systems Ltd. on Tuesday inked a pact worth Rs 857 crore with Gujarat Metro Rail Corp.

The contract is for the manufacturing of 72 standard gauge cars for the first phase of Surat Metro Rail.

The order value for this project is approximately Rs 857 crores.

The execution of the project is slated to begin 76 weeks after the signing the contract and is likely to be completed in 132 weeks thereafter.

The Surat Metro Rail Project includes two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of Rs 12,020 crore.

"TRSL has decided to expand its capacities at a capex of about Rs 650 crore in the next couple of years, a large sum of which is already invested and bearing fruit," the senior management of the company said.

The company is a manufacturer of railway wagons and player in passenger coaches.