As part of the transaction, Lucchini RS will acquire a 15% equity stake in Jupiter Tatravagonka Railwheel Factory (JTRWF), while SIMEST, an Italian government financial institution, will acquire an additional 10% stake. The combined 25% stake acquisition is valued at approximately €28 million.
According to the company, the partnership is aimed at creating India’s first fully integrated private-sector railwheel manufacturing platform, covering the complete value chain from raw material processing to finished railway wheels, axles and wheelsets. It combines Jupiter Wagons’ manufacturing capabilities with Lucchini RS’s expertise in railwheel technology, engineering and metallurgy.
The company said the collaboration is expected to strengthen India’s domestic rail manufacturing capabilities while positioning the country as a globally competitive hub for high-value railway components. Through JTRWF, the partners plan to cater to the growing Indian railway market while developing an export platform to integrate India further into global railway supply chains.
The partnership is backed by the Government of Italy under the Sistema Italia framework. SIMEST will participate as an equity investor, while CDP will provide financial and advisory support to Lucchini RS.
JTRWF’s integrated platform combines its operational facility at Chhatrapati Sambhajinagar with a greenfield manufacturing complex under development in Odisha. Once operational, the Odisha facility will enable end-to-end production of railway wheels, axles and wheelsets, making it India’s only fully integrated private-sector railwheel manufacturing platform.
Shares of Jupiter Wagons ended 1.47% higher at ₹263 on the NSE on Monday.
