New Delhi, July30^th, 2026.

Texmaco Rail & Engineering Limited and Touax Group, long-standing partners in India's railcar leasing sector for over 15 years, have entered a new phase of growth with the induction of TrinityRail Global, Inc. ("Trinity"), a subsidiary of Trinity Industries, Inc., into TouaxTexmaco Railcar Leasing Private Limited (TTRL).The expanded partnership now brings Indian manufacturing scale, European leasing expertise spanning nearly two centuries, and North American rail engineering leadership together under one integrated platform. Texmaco and Touax will each continue to hold a 34 per cent stake in the entity, with TrinityRail holding the remaining 32 per cent. As part of this renewed roadmap, the partners announced plans to invest in 100 new rakes over the next 3–5 years, an investment estimated at around ₹1,800 crore at current market prices.

The day also marked the first board meeting of the newly formed joint venture. The partnership combines expertise of three global specialists across manufacturing, leasing and railcar technology into a single integrated platform. The venture will continue to induce best in class rolling stocks, reduce maintenance costsand improveasset utilisation and shorten production timelines.

Saroj Kumar Poddar, Chairman, Texmaco Rail & Engineering Limited and Adventz Group said, "This joint venture with Touax and TrinityRail marks a significant milestone in Texmaco's journey to build a future-ready rail freight ecosystem for India. By bringing together India's manufacturing excellence, Europe's leadership in leasing and asset management, and North America's advanced rail engineering capabilities, we are creating an integrated platform spanning design, manufacturing, financing, leasing, maintenance, lifecycle engineering and asset management. As India aims to increase rail's share in freight movement from 27% to 45% under the National Rail Plan and is expected to induct more new wagons, the need for innovative, technology-led rail solutions has never been greater. This collaboration strengthens indigenous design capabilities, brings global expertise to India, and contributes meaningfully to the vision of Viksit Bharat by making India's rail logistics more efficient, competitive and future-ready."

Fabrice Walewski, General Partner & CEO, Touax Group said, "As India accelerates its ambition to increase rail's freight modal share to nearly 45%, the need for modern wagon financing and flexible leasing solutions has never been greater. This joint venture marks the beginning of a new phase in Touax's journey in India, with our shareholders committed to investing in 100 rakes over the coming years to support the country's growing freight ecosystem. By combining global leasing expertise with world-class manufacturing capabilities, we aim to bring greater capacity, operational flexibility and innovative wagon solutions to the market. Leasing has transformed transportation industries worldwide, and we believe it can play a pivotal role in strengthening India's railway sector while enabling more efficient, cost-effective and sustainable freight movement."

The new structure builds on the existing Touax–Texmaco Railcar Leasing platform, established to introduce globally benchmarked freight wagons in India under liberalised wagon investment and leasing schemes. With Trinity joining as partner, the platform gains unmatched technological depth, financial strength, and global best practices.

Patrick Hurst, Chief Investment Officer, TrinityRail, said, "India represents one of the most exciting rail freight growth opportunities globally, and we are proud to partner with Texmaco Rail & Engineering and Touax to help build a world class railcar leasing ecosystem. Drawing on more than 50 years of experience managing one of the world's largest privately owned railcar lease fleets, we aim to bring global expertise in wagon design, lifecycle optimisation, maintenance, financing and technology enabled asset management to the Indian market. Together, we will focus on delivering safer, more efficient and cost-effective transportation solutions that place customer needs at the centre while supporting the long-term evolution of India's freight rail infrastructure."

IndrajitMookerjee, Vice Chairman, Texmaco Rail & Engineering Limited; Group President, Adventz Group said,

"Today marks a significant milestone for Texmaco Rail & Engineering as we strengthen our long-standing partnership with Touax and welcome TrinityRail to India. This collaboration brings together world-class expertise in railcar manufacturing, engineering, maintenance, and leasing at a time when India's rail freight sector is undergoing a transformative phase. With evolving railway policies and growing demand for efficient freight mobility, this partnership is well positioned to support the development of a robust railcar leasing ecosystem and contribute to India's infrastructure and economic growth. We look forward to combining our complementary strengths to deliver innovative, reliable, and sustainable solutions for the Indian market."

Backed by logistics infrastructure through initiatives such as PM Gati Shakti, the National Logistics Policy, and the expansion of Dedicated Freight Corridors, demand for modern, flexible and capital-efficient freight transportation solutions is expected to grow significantly. TTRL has been established to address this opportunity by combining global leasing expertise, advanced rail technology, manufacturing excellence and lifecycle asset management within a single integrated platform.