Finnish-Russian digital solutions provider Zyfra will offer technology and expertise to state-run Modern Coach Factory (MCF) to help execute a Rs 150 crore contract to build international standard coaches for metro trains, the company has said. Earlier this year, MCF Rae Bareilly floated the tender to buy technology for the design, development, manufacturing, testing and maintenance of aluminium body passenger coaches for metro trains by 2021.
According to a Zyfra release, the artificial intelligence (AI) and the industrial internet of things (IIoT) solutions firm has cumulatively earned more than $26 million from India-related deals and plans to almost double this to $45 million by the end of 2019.
Zyfra achieved $3 million in contracts with its Indian counterparts in 2018, facilitating industrial manufacturers with AI and IIoT-based solutions as well as autonomous vehicles, it said. The company plans to enhance its presence in the Indian market and reach the target of $50 million in deals by 2021.
Zyfra has launched 17 pilot projects in India with its major partners like Spudweb, Parivartan Automation, Abcon Group, Wimera Systems and OJB Engineering from the defence, aerospace, petrochemicals, metallurgy and mining fields, the statement said.
According to Zyfra, the Indian information and communications technology (ICT) market is expected to touch $225 billion by 2020, representing a growth rate of 11 per cent annually.