Texmaco Rail & Engineering Limited has informed the Exchange regarding Corrigendum to Press Release dated 19th February, 2026.
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Texmaco Rail & Engineering has issued a corrigendum to its 19th February 2026 press release, correcting a typographical error. Mr. Saleem Ahmad was wrongly identified as Chairman & Managing Director of Texmaco; he is actually the Chairman & Managing Director of Rail Vikas Nigam Limited (RVNL). The underlying announcement covered the formal signing of a Joint Venture Shareholders' Agreement between Texmaco and RVNL (a government PSU under the Ministry of Railways) to build a rolling stock and rail EPC platform. Texmaco will hold a 49% stake while RVNL retains majority 51% ownership. The JV will focus on advanced rolling stock, lifecycle maintenance, and large-scale EPC projects targeting domestic and overseas markets including Asia, Africa, and the Middle East, aligned with the government's Aatmanirbhar Bharat vision.
The correction itself is administrative and has no material impact. The underlying JV with state-owned RVNL is strategically significant for Texmaco, giving it a stronger foothold in government-backed rail projects and export markets, though the minority 49% stake means Texmaco is the junior partner in decision-making.