New Delhi: Bharat Heavy Electricals Limited (BHEL) has signed a Joint Venture Agreement with Titagarh Rail Systems Limited (TRSL) to form a joint venture company for the comprehensive maintenance of supplied Vande Bharat Sleeper Trainsets for 35 years.

The agreement was signed on September 15, 2026, according to a regulatory filing by BHEL.

Follow The PSUWatch Channel on WhatsApp

The proposed joint venture company (JVC) will be equally owned by BHEL and TRSL, with each holding a 50 percent stake. The JVC will undertake comprehensive maintenance of the supplied Vande Bharat Sleeper Trainsets.

The JV company is yet to be incorporated and will be established as a private limited company with an initial paid-up share capital of Rs 50 lakh. Its registered office will be located in Delhi, while BHEL and TRSL will nominate two directors each to its board.

The company will leverage the combined technical capabilities of BHEL and TRSL to ensure the operational readiness, safety and reliability of the Vande Bharat Sleeper trainsets throughout their 35-year service life.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)