Texmaco Rail & Engineering inks MoU with Nevomo; shares rally 1%

Texmaco Rail & Engineering has entered into a strategic Memorandum of Understanding (MoU) with Nevomo, a Polish technology entity founded in 2017, a European pioneer in next-generation Magrail technology and Linear Propulsion Systems along with related technology solutions.

This pioneering agreement heralds a new era of rail infrastructure innovation, high-speed rail solutions, AI-powered predictive diagnostics, self-propelled wagons, and driverless freight trains to revolutionise mobility in India and on the global stage.

This alliance aims to redefine the rail industry by co-developing and implementing Nevomo’s cutting-edge Magrail technology and Linear Propulsion Systems along with related technology solutions. Leveraging the company’s extensive manufacturing capabilities and Nevomo’s technological prowess, the collaboration aspires to bolster rail network efficiency, expand capacity, and modernise existing railway & port systems along with quantum efficiency improvement in mines, captive rail & logistics setup. Furthermore, it underscores India’s vision to become a global leader in next-generation transportation solutions and make-in-India initiatives.

As India undergoes a significant transformation in rail infrastructure, this strategic partnership between the company and Nevomo is poised to play a pivotal role in shaping the industry's future. By merging their manufacturing, engineering, and technological expertise, the two companies are committed to redefining mobility on a global scale.

Texmaco Rail & Engineering is a private engineering and infrastructure company based in India. It is primarily engaged in manufacturing railway wagons, coaches, and locomotives and providing related services.