INDIA: The AT Railway a subsidiary of Amber Enterprises India has signed a joint venture agreement with South Korea’s Yujin Machinery to design, manufacture, and develop critical components for various types of rolling stock used in India.
The joint venture will focus on components such as drive gears, couplers, and pantographs for a wide range of vehicles, including high speed, inter-city, regional and metro trainsets. By leveraging the strengths of both companies, the company aims to establish itself as a leading manufacturer in the Indian railway ecosystem.
AT Railway holds a majority stake in the venture, which it believes marks a significant step towards enhancing domestic manufacturing capabilities and fostering self-reliance in line with the government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. With plans for substantial investment, and access to cutting-edge technology from the Korean partner, the joint venture is well placed to capture a significant share of India’s burgeoning rolling stock market.
The addressable market for railway sub-systems in India is estimated to be worth between Rs750bn and Rs800bn over the next five or six years, presenting ample opportunities for growth and innovation. The sector is currently dominated by international players, but by focusing on indigenous design and production the venture aims to align with the government’s vision of promoting local manufacturing, creating employment opportunities, and nurturing skills development.
An Amber Enterprises spokesperson explained that Sidwal, a wholly-owned subsidiary of AT Railway, was already established in the manufacturing of HVAC systems, pantry facilities, doors, and gangways for Indian rolling stock. The addition of drive gears, couplers, and pantographs would strengthen the group’s range and open up opportunities to increase its market share.
