Titagarh Wagons on Tuesday said it has received the single largest order in the company’s history worth Rs 7,838 crore for supplying 24,177 wagons to Indian Railways. The order needs to be executed in 39 months.

The company said in a statement that the order is about 32 per cent of the total order finalised by the railways. With this contract, the company’s total order book stands at Rs 10,645 crore .

The company has the necessary infrastructure and capacity to supply the wagons, but it will further augment its facilities to optimise production costs and efficiencies.

“The government had earlier announced that they would be looking at doubling their freight loading in the next few years, which was expected to lead to procurement of a much larger number of wagons.

“In line with our past market share, we were expecting to receive an order for a large quantity,” said Umesh Chowdhary, vice-chairman and managing director of Titagarh Wagons.

The company is also trying to develop an export market for both the freight wagons and transit train business. “We have recently opened an office in America, while we already have a significant presence in Europe through our Italian subsidiary involved in transit train manufacturing. We will be synergising our Indian and Italian operations to cover the global market for both the freight wagons and transit business," said Chowdhary.

Besides freight, transit and propulsion, shipbuilding, bridges, and defence are the other business verticals of the company. "Our aim and target will be to make each of the business verticals grow to around 20-25 percent of the total size of the company and we will continue to work towards that,” said Chowdhary.