GE EQUIPMENT Services has entered the Indian rolling stock leasing market with the purchase of a 15% stake in Titagarh Wagons Ltd, a private sector manufacturer of wagons, bridges and earth moving equipment.
The deal gives GE Equipment Services preferred access to wagons produced by Titagarh, which will be leased to Indian Railways and private shippers. Titagarh will use the investment to increase production rates and cut lead times, as strong demand for rolling stock in India means that new vehicles are currently taking up to 18 months to deliver.
The companies plan to incorporate GE's VeriWise Rail asset management technology into future wagon production, enabling rail operators and shippers to locate specific wagons and monitor vehicle and load conditions. GE is also the preferred provider of vendor financing for the Indian firm.
