India’s Techno Industries Secures Major MRVC Contract

Techno Industries Pvt. Ltd., a subsidiary of Lloyds Engineering Works Lt., a company that focuses on industrial products including vertical-transportation equipment, secured a ₹19.50 crore (US$2.2 million) escalator contract with Mumbai Rail Vikas Corp. (MRVC), outlets including TipRanks report. Techno will design, manufacture, install, test, commission and maintain an unspecified number of escalators for MRVK. The order marks Techno Industries’ entry into the railway sector and expansion beyond Gujarat and increases its order book to ₹82.86 crore (US$9.2 million). The source observed this aligns with Lloyds’ strategy to diversify into new sectors and markets, including tier-2 and tier- cities, industrial elevators and parking systems. Headquartered in Mumbai, Lloyds has high-tech manufacturing facilities in Murbad and Thane and serves sectors including carbon, oil and gas, steel and energy.