L&T Technology Services Limited and PS Technology have entered into a strategic partnership to bring advanced simulation technology to the Indian railway market and surrounding regions.
Background: The two companies signed an agreement to focus on designing, developing and supplying advanced AI-based simulation technology aimed at improving operational efficiency and safety of rail infrastructure in India and abroad.
The partnership has led to the establishment of the company’s first Customer Experience and R&D Centre (CXC) in Faridabad, near New Delhi. CXC will leverage new technologies in the design and supply of simulators, setting new benchmarks in the Indian railway sector. The centre’s aim is to provide support and innovation, and drive advancements in simulation and training capabilities for the rail market.
Also read: Adani Energy Solutions seeks $1 billion fundraising in QIP report
Through this partnership, L&T Technology Services will leverage its extensive expertise in railway engineering to help PS Technologies localise and indigenise its technology to cater to the specific needs of the country’s railways.
Ariand Saxena, executive director and president, Mobility and Technology, L&T Technology Services, said the partnership between the two companies will enable innovative mobility solutions that will increase operational efficiency and safety across the rail network.
Price Activity: Shares of L&T Technology Services fell 0.63 per cent to Rs 5,167.85 on Tuesday.
Read next: RVNL shares continue recovery after winning Rs 739 crore orders
Engineering: Benzinga Neuro; Editing: Nivedita Hazra
Benzinga’s GPT-4-based Neuro content generation system leverages the extensive Benzinga ecosystem, including native data, APIs, and more, to create comprehensive, timely stories. Learn more here.
Don’t miss out on any stock market action – Get real-time updates on key stock movements and trade ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
