ABB propulsion systems, including traction converters, auxiliary converters, traction motors, and TCMS software, are to be purchased by Titagarh under the terms of the cooperation. On November 21, both ABB India and Titagarh Rail Systems announced a strategic agreement for the supply of propulsion systems for metro rolling stock projects in India. As a result, the share price of Titagarh Rail Systems reached a 52-week high.

ABB India’s quote at 9:24 a.m. was Rs 4,375.00, up Rs 29.10, or 0.67 percent. Titagarh Rail Systems is up Rs 72.05, or 7.70 percent, at Rs 1,008.10, having reached a 52-week high of Rs 1,023.60.

ABB propulsion systems, including traction converters, auxiliary converters, traction motors, and TCMS software, are to be purchased by Titagarh under the terms of the cooperation.

In addition, it entails obtaining the production license and manufacturing rights for traction motors in addition to fully transferring ABB’s GoA 4 (Driverless metro) TCMS software technology to Titagarh.

Edgar Keller, president of ABB’s traction business, stated, “This strategic partnership with Titagarh will provide the strong foundation to enter and expand our footprint in this key market, while also supporting the efforts to make rail transportation in India sustainable through our energy efficient technology, fully produced in India.”

In the September quarter, ABB India reported a 79% increase in net profit to Rs 362 crore and a jump in total income to Rs 2,846.01 crore.

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