Titagarh Rail Systems Receives Letter of Intent for Wagon Leasing Contract
Titagarh Rail Systems Ltd. announced it has received a Letter of Intent (LOI) from Balmer Lawrie & Co. Ltd. for a wagon leasing contract, marking the company's first successful venture in the wagon leasing business. The LOI, dated March 24, 2026, follows a wagon leasing license agreement signed with Indian Railways on February 9, 2026.Under the terms of the contract, Titagarh Rail Systems will serve as the Lessor, providing 2 BFNS 22.9T rakes – a total of 43 wagons with a 4% spare capacity (2 wagons) – for a period of 10 years. These rakes will transport HR Coils, Sheets & Plates, adhering to the latest approved drawings from RDSO. The contract's effective date will be 15 days from the Letter of Award or contract signing, whichever occurs first, commencing April 7, 2026.
The order is valued at ₹ 44.41 Crores, including GST.
Here's a summary of the contract details:
| Sl. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the entity awarding the Order/Contract | Balmer Lawrie & Co. Ltd |
| 2 | Significant terms and conditions of the Order/Contract awarded in brief | Appointment as Lessor for providing 2 Nos. of BFNS22.9 rakes (43 +4%(2wagons) spare wagons each having a carrying capacity of 64.89 MT) to transport HR Coils, Sheets & Plates as per latest approved drawing of RDSO on operating lease basis on the Indian Railways network for a period of 10 years |
| 3 | Whether the Order/Contract has been awarded by domestic/ international entity | Domestic Entity |
| 4 | Nature of Order/Contract | Appointment as Lessor for providing 2 Nos. of BFNS22.9 rakes (43 +4%(2wagons) spare wagons each having a carrying capacity of 64.89 MT) to transport HR Coils, Sheets & Plates as per latest approved drawing of RDSO on operating lease basis on the Indian Railways network for a period of 10 years, as detailed herein. |
| 5 | Whether domestic or international | Domestic Entity |
| 6 | Time period by which the Order/Contract is to be executed | Effective Date of Contract: 07.04.2026 Effective date of contract shall be 15 days from the date of issue of Letter of Award of Contract or signing of contract agreement whichever is earlier. |
| 7 | Broad commercial consideration or size of the Order/Contract | The order is valued at ₹ 44.41 Crores (Incl. of GST) |
| 8 | Whether the Promoter/Promoter Group/Group Companies have any interest in the entity that awarded the Order/Contract? If yes, nature of interest and details thereof | No |
| 9 | Whether the Order/Contract would fall within related party transactions? If yes, whether the same is done at 'arm's length' | No |
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