Russia to Support Local Car-Builders on International Projects

Russia will finance rolling stock sales abroad, the Regnum quotes Russian Prime Minister Dmitry Medvedev. He made this statement at the meeting on the rolling stock manufacturing development held at the Tver Car-Building Plant.

“VEB’s [Vnesheconombank] decision to finance the contract for Uralvagonzavod’s car supplies to Azerbaijan was very important”, Mr. Medvedev said. “Other negotiations are in process now. I would like to tell everybody that I will sign VEB’s decision on three loans to be granted to rolling stock manufacturers: Metrovagonmash - on Hungary project and Uralvagonzavod on Iran and Kazakhstan projects”.

Metrovagonmash is Russia’s largest metro car manufacturer. Uralvagonzavod is Russia’s largest freight car manufacturer.

Due to the economic crisis the Russian rolling stock manufacturing dropped 37% in 2015.