Kolkata, Feb 10 (PTI) Titagarh Rail Systems Ltd said it has received approval from the Ministry of Railways for registration as a Wagon Leasing Company, enabling it to own wagons and offer them on lease for operations across the national rail network, the company said in a regulatory filing on Tuesday.
With this approval, Titagarh Rail Systems becomes eligible to participate in wagon leasing in line with the terms and conditions prescribed under a scheme, which aims to encourage private sector participation in rolling stock ownership and improve freight transportation efficiency and capacity.
The company stated that the registration marks its entry into the wagon leasing segment and strengthens its integrated presence across wagon manufacturing, asset ownership and freight mobility solutions.
TRSL vice-chairman Umesh Chowdhary had told PTI that the company will evaluate to float a new SPV for the new leasing activity.
Indian Railways introduced the Wagon Leasing Scheme to enhance wagon availability and operational efficiency by allowing private players to own and lease wagons for use on its network.
Titagarh Rail Systems said it will comply with all operational, safety, maintenance and regulatory requirements stipulated by Indian Railways and other authorities and will continue to pursue opportunities aligned with its long-term growth strategy. PTI BSM NN
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