Transmashholding, Russia’s largest manufacturer of rail transport rolling stock, has signed a shareholder agreement with the Indian company Rail Vikas Nigam Limited (RVNL) to establish a joint venture, Kinet Railway Solutions Ltd. In India, the new company would provide and service Vande Bharat trains.
During a visit to the Ulan-Ude Locomotive Car Repair Plant, Russian Prime Minister Mikhail Mishustin informed the Director General of Transmashholding Kirill Lipa about the signing of the agreement. The document states that a total of 120 long-distance electric trains with berths will be built. Within five years of signing the contract, rolling stock production will begin in India, in the city of Latour. The equipment will be serviced and maintained for the next 35 years.
According to Interfax, the Russians will hold 75% of the new joint company, while the Indians will own 25%. The General Director of Transmashholding stated that the company, along with colleagues from Indian Railways, won the largest railway tender in history – for $6.5 billion. The project’s next step should be the signing of a contract with Indian Railways.
Transmashholding is Russia’s leading developer and manufacturer of modern multi-unit rolling stock. The company specializes in the development of rolling stock and digital traffic control systems. It serves rail operators and manufacturers in 30 countries by supplying passenger trains and wagons, metro trains, locomotives, engines, and components.