BHEL and Titagarh Rail sign 50-50 JV to maintain Vande Bharat Sleeper trains for 35 years

New Delhi: Bharat Heavy Electricals Limited (BHEL) has signed a joint venture agreement with Titagarh Rail Systems Limited (TRSL) to maintain supplied Vande Bharat Sleeper trainsets for 35 years.The two companies will hold equal stakes in the proposed venture, combining their technical capabilities to support the trains throughout their service life, according to BHEL’s exchange filing dated September 15.Equal Ownership StructureBHEL and TRSL will each own 50 percent of the joint venture company, which is yet to be incorporated. The entity will operate as a private limited company and have its registered office in Delhi.The initial paid-up share capital has been fixed at Rs 50 lakh. Both promoter companies will nominate two directors each to the board, giving them equal representation in the venture’s governance.BHEL said the agreement is domestic and does not constitute a related-party transaction. No share exchange ratio beyond the equal 50:50 ownership structure was announced.Long-Term Maintenance MandateThe venture’s business will be the comprehensive maintenance of Vande Bharat Sleeper trainsets supplied by the partners. Its mandate will extend across the entire 35-year service life of the trains.The arrangement is expected to pool the technical strengths of the state-owned engineering major and the railway systems manufacturer. Their combined expertise will be deployed to ensure operational readiness, safety and dependable performance.Strategic Rail PartnershipBHEL brings experience in heavy electrical equipment, engineering and transport systems, while Titagarh Rail Systems specialises in manufacturing passenger coaches, metro trains, freight wagons and related railway equipment.BHEL, Railways Officials Discuss Latest Advancements In Motor TechnologyThe partnership strengthens their involvement beyond manufacturing and supply by creating a dedicated platform for long-duration maintenance services.Such lifecycle contracts provide continuing technical oversight after trainsets enter service and require monitoring of systems, equipment and reliability standards.BHEL had previously informed the stock exchanges about the proposed partnership on March 19, 2026. The latest filing confirms that the agreement has been signed, paving the way for incorporation of the jointly controlled company.Disclaimer: This article is based on information disclosed by BHEL in its exchange filing and is intended solely for informational purposes.

The joint venture between BHEL and Titagrah Rail was for comprehensive maintenance of supplied Vande Bharat sleeper trainsets for 35 years.