Kirloskar Oil Engines (KOEL), a leading engineering, power generation, and solutions company, has signed a memorandum of understanding with RITES Ltd., a leading transport infrastructure consultancy and engineering firm, to jointly explore business opportunities for products and solutions in the areas of railway rolling stock, infrastructure, and urban transport for domestic and international markets.
Through this MoU, KOEL will use its R&D expertise, manufacturing acumen, cutting-edge manufacturing facilities, supply chain network, and strong channel to develop, manufacture, and supply products for RITES customers, while RITES will provide expertise in design, marketing, operation and maintenance, and any other support needed to capitalise on business opportunities.
“The strategic partnership between KOEL and RITES leverages the strengths of both organisations,” the company said. While KOEL is focused on developing world-class products and services, RITES excels in design, technology, and marketing.