India, Russia sign up for a train journey together
“They have huge domestic requirements and for that they want to set up manufacturing facilities here. They want to get these supplies from India,” ToI's report (by Dipak K Dash) said quoting a railway ministry official.
TMH CEO Kirill Lipa elaborated on the plan at the company's Moscow headquarters. “The current interest rate in India is very different from other countries. So, we are interested and ready to invest in India. We are interested in developing several facilities in India, which are capable of providing certain components and we think some of them can be supplied to the Russian market as well.”
Lipa noted existing supply contracts between the two countries. “We have a historically good relationship with suppliers there (India) and that means we can increase this import into Russia from India.”
TMH is the majority stakeholder in Kinet Railway Solutions, which holds a Rs 55,000 crore contract with Indian Railways. This contract covers the production and 35-year maintenance of 1,920 Vande Bharat sleeper coaches.
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