Finmeccanica negotiating rail JV with India’s BHEL
20 Mar 2009
Italian aerospace and defence giant Finmeccanica SpA is negotiating the setting up of a joint venture with Indian heavy-engineering company Bharat Heavy Electricals Ltd aimed at manufacturing railway wagons, coaches and locomotives.
Paolo Girasole, head of Finmeccanica's India office, has said the firm was in talks with state-controlled as well as private companies.
According to Girasole the group sees its revenue in India climbing to EUR 800 million ($1.1bn) by 2014, from EUR 200 million at present, mainly on the back of new security and aircraft orders.