The Titagarh Wagons board has approved a proposal to change the company’s name to Titagarh Rail Systems as the company’s business grows beyond wagon manufacturing.

This would be the first change in the company’s name since its incorporation in 1997.

“The change proposed in the name of the company to Titagarh Rail Systems Limited reflects our presence across the entire gamut of operations across the rail ecosystem,” said Umesh Chowdhary, vice chairman and managing director, Titagarh Wagons.

The company is currently executing an order for 102 metro coaches for Pune Metro. The delivery of the aluminum body metro coaches from its manufacturing facility in Uttarpara is on track.

The company has also successfully participated in tenders for manufacturing Vande Bharat trains jointly with Bhel.

Another consortium with Ramkrishna Forgings will supply forged wheels to the Indian Railways.

“Taking note of the need to reflect its expanded business portfolio in the rail systems space, the board of Titagarh approved the proposed change in name at its meeting held on March 17, 2023,” the company said in a statement on Saturday.

The board has also appointed Saket Kandoi as director (freight rolling stock). He has been associated with the company for the last 16 years in various roles.

A decision has also been taken to incorporate a new company in India in a joint venture with Titagarh Firema SpA, Italy, to acquire the company’s design centre in Hyderabad to support the transit and propulsion business.

The board has approved a maximum investment of Rs 5 crore in the joint venture company with 51 per cent of the equity being held by TFA and 49 per cent by Titagarh, India.