Ramkrishna Forgings Limited (RKFL) said in a statement on Friday its consortium with Titagarh Rail Systems Limited (TRSL) has bagged a Rs 12,227 crore order from the Ministry of Railways to supply forged wheels under the government’s Atmanirbhar Bharat initiative. 

The contract, spanning over 20 years, is to supply 15,40,000 forged wheels, with the delivery of 40,000 forged wheels in the first year, 60,000 in the second year, and 80,000 wheels annually after that, RKFL said in the statement. The wheels will be used for Vande Bharat Express trains, LHB coaches, WAG9 locomotives, and other platforms.

When fully operational, the consortium will establish a facility to manufacture these forged wheels, with a total annual production target of 2,00,000 wheels. The facility will address the demands of the domestic railway sector, private sector as well as export markets. RKFL and TRSl will contribute equity equally to support the project’s capital expenditure needs.

Ramkrishna Forgings, based in Kolkata, is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings. The company is also present in the United States, Mexico, Turkey, and Belgium.

Shares of both companies rose following the news. Titagarh Wagons saw its stock closing 2.41% higher on the National Stock Exchange (NSE) at Rs 426.20, while that of Ramkrishna Forging rose 4.06% and closed at Rs 425.