Jupiter Wagons arm secures land for a plant in Odisha, plans to invest ₹2500 crore in phases

Jupiter Tatravagonka plans to invest ₹2,500 crore in phases over the next few years to develop the facility.

“This marks a major milestone in the company’s expansion plans, reinforcing Odisha’s position as a strategic hub for high-tech industrial manufacturing. Notably, JTRF is the first railway heavy engineering industry in Odisha in the private sector,” Jupiter Wagons said in a statement to the stock exchanges.

The plant is expected to produce 100,000 forged wheelsets annually and will cater to both domestic and international markets, with nearly 50% of production earmarked for exports, primarily to Tatravagonka A.S., a leading Slovakian rail infrastructure company, and other European firms.

The announcement came after market hours on Thursday. Shares of Jupiter Wagons settled at ₹379.55 apiece, gaining as much as 2.30% on the National Stock Exchange.

With operations expected to commence by 2027, the Odisha plant will play a crucial role in strengthening India’s railway manufacturing capabilities while supporting the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. The facility is expected to create thousands of direct and indirect jobs, driving economic growth in the region, the company further said.

Commenting on the development, Vivek Lohia, Managing Director of Jupiter Group, said, “The acquisition of land in Odisha marks a significant milestone in our commitment to strengthening India's self-reliance in rail manufacturing. With the strong support of the Government of Odisha, we are confident that this project will drive industrial growth, generate employment, and cement India's position as a global hub for rail infrastructure.”

By producing critical railway components domestically, Jupiter Tatravagonka will significantly reduce import dependency while expanding its global trade footprint through exports to Europe. The plant will be equipped with cutting-edge technology to support higher-speed and high-load efficiency railway operations.

Jupiter Wagons is a leading company providing complete mobility solutions with a rich legacy of over four decades.