Kolkata: Jupiter City Wagons has set a turnover target of Rs 2,000 million by 2023, based on the growth potential of the rickshaw industry and plan to diversify into new territories. The group plans to include Jupiter chariots in the future.
Jupiter Wagons Group Manager Vivek Lohia told TOI that the group now has Rs 1,300 million manufacturing facilities near Kolkata, Jamshedpur, Indore and four units in Jabalpur. Lohia noted that by 2030, the railway will require 1.5 thousand new cars, which will support the growth of the industry. “In the next five years, Wagon’s business will grow significantly,” he added.
In addition to wagons, Jupiter is also in the field of high-speed braking systems, railway equipment and mechanical engineering. CEBBCO, a group company that manufactures dump trucks, trailers, ISO high cube containers, marine and special vehicles for tanks and defense.
The group has joint venture and partnership with major European company Tatravagonka from Slovakia, DAKO-CZ from Czech Republic, Kovis doo from Slovenia, Taleres Alegria SA from Spain, Frenoplast SA from Poland and LAF-CIM Group in France. The share of the promoters in the company is about 60%, while the endowment funds are owned by 15% and the rest is owned by European partners.
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