Kolkata, Aug 27 (Calcutta Tube) Wagon maker Titagarh Wagons is having talks with a Japanese company to set up a joint venture to build large bridges and flyovers, a top company official said here Friday.
‘We are already present in steel bridge making on our own in a small way but we are now looking at making large bridges and flyovers,’ J.P. Chowdhary, executive chairman, told reporters on the sidelines of the annual general meeting.
Talks with the Japanese company are likely to be concluded in two months.
At present, Titagarh makes short pre-fabricated bailey bridges, with a technical licence from the Defence Research Development Organisation (DRDO).
The Japanese company has already made bridges of 4-5 km long. Titagarh would be importing the technology.
Titagarh is also in talks with another Japanese company for technical tie-up for making metro coaches.
The company plans to take up the promoters’ shareholding to 52 percent from 49 percent now.
‘As approved by the shareholders at the AGM the promoters will invest about Rs.48 crore by way of preferential allotment of warrants convertible into equity shares thereby taking the total shareholding of promoters/promoter group from 49 percent to 52 percent,’ said Chowdhary.