Lucchini RS and SIMEST Buy 25% of Jupiter Tatravagonka Railwheel Factory for €28m
Jupiter Wagons Limited announced on 3 August 2026 a strategic partnership with Lucchini RS Holding S.p.A. to build an integrated railwheel manufacturing platform in India. The announcement was filed with BSE and the National Stock Exchange of India under Regulation 30 of the SEBI Listing Regulations. Under binding agreements, Lucchini RS will acquire a 15% equity stake in Jupiter Tatravagonka Railwheel Factory Private Limited (JTRWF), and SIMEST S.p.A., an Italian government financial institution, will acquire a further 10%. The two stakes, totalling 25%, represent a combined consideration of approximately €28 million.
The transaction is backed by the Italian government under the Sistema Italia framework coordinated by the Italian Ministry of Foreign Affairs, according to the company's release. SIMEST participates as an equity investor while CDP extends dedicated financial and advisory support to Lucchini RS. Jupiter Wagons said the partnership also has the support of the Italian Embassy in India.
Industrially, JTRWF's platform combines its operating facility at Chhatrapati Sambhajinagar, formerly Aurangabad, which currently undertakes machining and wheelset assembly, with a greenfield manufacturing complex under development in Odisha. The Odisha site is to house upstream capabilities including forging, primary metallurgy and wheel manufacturing, enabling end-to-end production of railway wheels, axles and wheelsets. The company describes the finished platform as India's only fully integrated private-sector railwheel manufacturing platform — a claim scoped explicitly to the private sector.
Vivek Lohia, Managing Director of Jupiter Wagons Limited, said the partnership "marks a defining milestone in our vision of building a globally competitive railwheel manufacturing ecosystem in India". Giuseppe Lucchini, Chairman of Lucchini RS, said the 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".
Several parameters were not disclosed. The release gives no production capacity for either site, no capital cost for the Odisha complex, no commissioning date and no completion date for the stake acquisition. The consideration is stated in euro only; Indian media reported the equivalent as about Rs 307 crore. Jupiter Wagons said its own in-house wheelset demand, driven by its wagon manufacturing business, provides an anchor customer base for the platform from inception.