U.S. Firm TrinityRail Acquires 32% Stake in India Railcar Leasing JV TTRL

Touax Group, Texmaco Rail & Engineering Limited and TrinityRail Global, Inc. announced on June 3, 2026 that Trinity will join their railcar leasing joint venture TTRL with a 32 percent participation. The companies made the announcement from Paris, Kolkata and Dallas.

TrinityRail Global, Inc. is a subsidiary of Trinity Industries, Inc. Touax will continue to consolidate TTRL under IFRS accounting rules. The partnership is the first global collaboration that unites a leading Indian rail manufacturer, a European railcar lessor and one of the largest North American railcar manufacturers and lessors inside a single, almost equally owned operating platform.

"This partnership marks a defining moment for India's freight rail ecosystem," Poddar said. "By combining Touax's leasing expertise, Trinity's global rail technology leadership, and Texmaco's manufacturing and market strengths, we are building a scalable, resilient, and globally benchmarked platform.

The companies said the integrated platform will propose best-in-class rolling stock, reduce maintenance costs, improve asset utilisation and shorten production timelines. The venture is also expected to introduce new railcar designs and advanced lifecycle technologies that support lower emissions and improved sustainability outcomes.

Access to global capital and competitive financing is expected to enhance leasing efficiency, reduce costs and accelerate market adoption.

The partnership positions India at the centre of next-generation freight rail innovation inside a market valued at ₹3 lakh crore.