Texmaco Rail and Engineering buys 55% stake in Bright Power Projects
PremiumTexmaco Rail and Engineering specializes in overhead electrification solutions for the railways
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Mumbai: Overhead electrification solutions provider Texmaco Rail and Engineering Ltd has bought 55% stake in Bright Power Projects (India) Pvt. Ltd for an undisclosed amount.
Following the acquisition, Bright Power Projects has become a subsidiary of Texmaco, service law firm SAM&Co., which advised the latter in the deal, said in a statement.
“With this acquisition, Texmaco will make a foray into the high growth overhead electrification solutions for the railways sector, which will enable it to further strengthen its position towards becoming a one stop integrated total rail solutions provider," the statement said.
Texmaco specializes in overhead electrification solutions for the railways and has strong credentials in this specialized field, which is reflected in execution of more than 400 electrification projects pan India. At present, the yet to be executed order book of Texmaco stands at around ₹ 600 crore. PTI
