On July 30, 2024, L&T Technology Services announced that it has partnered with PS Technology, a Union Pacific Railroad subsidiary, to advance rail simulation technology. They have signed a Memorandum of Understanding (MoU) to develop and supply AI-based simulation tools. This partnership aims to boost the efficiency and safety of rail systems in India and nearby regions.
As part of their agreement, LTTS and PS Technology have opened their first Customer Experience and R&D Center in Faridabad, near New Delhi. This centre will use advanced technologies to design and supply rail simulators, aiming to set new benchmarks in the Indian railroad industry. It will focus on offering top-notch support and driving innovations in simulation and training for Indian Railways.
The partnership between PST and LTTS will improve rail safety and offer real-time insights into modern transportation. Their new centre will focus on collecting real-time data, making proactive decisions, and managing resources better. Using AI and augmented reality, it aims to set high standards in rail simulation, immersive learning, training, and crew management, making rail travel safer, more secure, and quicker.
Abhinav Bhan, Senior Managing Director and Global Head of PST, said, “We are thrilled to partner with L&T Technology Services to introduce our advanced simulator technology in India and adjacent rail markets. This collaboration aligns with our commitment to revolutionize rail infrastructure through innovation and localized solutions,”.
L&T Technology Services Limited (LTTS), a Larsen & Toubro Limited subsidiary, specialises in Engineering and R&D services. They provide consultancy, design, development, and testing across the entire product and process development cycle. Their clients include 69 Fortune 500 companies and 57 leading ER&D firms worldwide, covering sectors like industrial products, medical devices, transportation, telecom, high-tech, and process industries.
On July 30, 2024, the share price of L&T Technology Services Limited opened at ₹5,224.00, touching the day’s low of ₹5,150.05 as of 11:05 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Jul 30, 2024, 5:36 PM IST
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