Lucchini RS has acquired a strategic stake in Jupiter Tatravagonka Railwheel Factory, strengthening its presence in India’s expanding railway manufacturing sector through a long-term industrial partnership.
Lucchini RS Holding has signed binding agreements with Jupiter Wagons Limited (JWL) to acquire a 15% stake in Jupiter Tatravagonka Railwheel Factory Private Limited (JTRWF), establishing a strategic partnership to develop an integrated railway wheelset manufacturing platform in India.
The investment is being made alongside SIMEST, part of Italy’s CDP Group, which will acquire an additional 10% stake while acting in coordination with Lucchini RS. The transaction is supported by the Italian Government through the Sistema Italia framework, with additional backing from the Italian Embassy in India.
JTRWF currently operates two manufacturing sites that will form the basis of the company’s future industrial platform. The project centres on a major new facility under development in Odisha, where investment is focused on upstream manufacturing processes including forging and primary metallurgy. The platform is complemented by an operational facility in Chhatrapati Sambhajinagar, which specialises in wheel machining and wheelset assembly, providing Lucchini RS with an immediate industrial presence in the Indian market.
Partnership targets integrated rail manufacturing growth
Once fully operational, the platform is expected to become India’s only fully integrated facility capable of manufacturing railway wheels, axles and complete wheelsets within a single production network. Production at the Odisha plant is scheduled to begin progressively between 2027 and 2028 as development milestones are completed.
The partners said the agreement combines complementary industrial and commercial strengths. Lucchini RS will provide technical expertise during engineering, industrialisation and commissioning while supporting commercial development and the introduction of advanced railway technologies into the Indian market.
The platform will also benefit from Jupiter Wagons’ internal demand as one of India’s largest railway wagon manufacturers, alongside long-term supply arrangements with European wagon manufacturer Tatravagónka. The combination is expected to create opportunities for both domestic supply and exports through established international rail supply chains.
The investment reflects growing demand across India’s railway sector, where continued infrastructure expansion and fleet modernisation are driving increased requirements for rolling stock components.
Giuseppe Lucchini, Chairman of Lucchini RS, said: “This transaction represents a significant step in Lucchini RS’s international development path, allowing us to enter an already operational industrial platform with strong growth potential.”
He added that the partnership would establish a structured industrial presence in India while building on cooperation with local partners and Italian institutions.
Vivek Lohia, Managing Director of Jupiter Wagons Limited, described the project as the development of India’s only integrated facility capable of producing wheels, axles and wheelsets under one roof. He added that support from Italian institutions demonstrated the growing industrial relationship between India and Italy.
Lucchini RS said the investment aligns with its long-term strategy of expanding its global manufacturing footprint through selective investments, industrial partnerships and participation in high-growth railway markets.
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