Jupiter Wagons Ltd (JWL) on Friday signed a memorandum of understanding (MoU) with Poland’s Pojazdy Szynowe PESA Bydgoszcz S.A. to explore opportunities in India’s passenger rail market, including metro, semi-high-speed and high-speed train segments.
Signed during the Polish-Indian Economic Forum in New Delhi, the MoU provides a framework for the two companies to explore cooperation in the development, manufacturing and deployment of passenger rail vehicles for regional, intercity and urban transport in India and other markets.
“At the heart of the MoU is a shared intent to explore cooperation in passenger rolling stock for India, as the country's rail network enters an era defined by metro, semi high-speed and high-speed travel,” Jupiter Wagons said in a post-market release.
The partnership is part of Jupiter Wagons’ strategy to expand beyond freight wagons and build an integrated mobility solutions business spanning passenger rolling stock, components, castings and wheelsets.
“The move marks the next step in JWL's evolution from a wagon manufacturer into a future-ready, integrated mobility solutions company that aims to bring freight and passenger rolling stock, along with critical components, together under one umbrella,” the company said.
India’s expanding metro networks, development of semi-high-speed trainsets and plans for high-speed rail are creating opportunities for passenger train manufacturers. Jupiter Wagons is looking to build capabilities in the segment as it broadens its presence across the rail transportation value chain.
Focus on passenger rolling stock
PESA, described by Jupiter Wagons as Poland’s largest manufacturer of trainsets and metros, designs, manufactures and maintains passenger rolling stock, including metro trains and trams across Europe. The company traces its roots in Bydgoszcz to 1851.
Jupiter Wagons supplies rolling stock to Indian Railways and private-sector customers, with manufacturing capabilities spanning components, castings and wheelsets.
Vivek Lohia, managing director of Jupiter Wagons, said passenger rolling stock was the next step in the company’s effort to expand across the mobility value chain.
“Indian rail is entering a decisive decade, and the companies that lead it will be those that offer complete solutions rather than individual products. That is the direction in which JWL has been building. From wagons and components to castings, wheelsets and allied systems, we are bringing more of the mobility value chain under one umbrella than ever before, and passenger rolling stock is the natural next layer,” Lohia said.
The two companies will explore combining PESA’s experience with Jupiter Wagons’ manufacturing capabilities and understanding of Indian Railways to develop passenger trains for India and other markets, he added.
Krzysztof Zdziarski, chief executive officer of PESA Bydgoszcz, said the company had been evaluating opportunities in India for years. The partnership could help PESA jointly implement projects and supply vehicles to Indian rail operators, while supporting its international expansion.
Ahead of the announcement, shares of Jupiter Wagons fell 5% to close at ₹173.40 on the BSE on Friday, valuing the company at ₹7,410 crore.