TMHS-Leasing Leases 11 Locomotives

TMHS-Leasing is to lease 10 mainline and one shunting locomotives from TransFin-M, the Interfax reports. The 1.6 B RUB funding is to be provided by Sberbank - a respective credit line was opened for 7 years.

TransFin-M earlier acquired 26 locomotives and leased them to OAO RZD. TransFin-M General Director Dmitry Zotov says that locomotive leasing is becoming a “rather prospective business” as the national locomotive fleet needs to be renewed.

TMHS-Leasing is a joint venture of TransFin-M and TMH-Service, which, in its turn, is owned by Locomotive Technologies. The JV was established in 2012 to provide tractive rolling stock to RZD and private operators. The company provides maintenance and service to locomotives during their life cycle.

TransFin-M is a leasing service provider working with vehicles, manufacturing equipment and commercial real estate. The company is controlled by Blagosostoyaniye Pension Fund, which was co-established by OAO RZD. TransFin-M owns 58,000 freight cars and 131 passenger coaches. OAO RZD holds 20% of the company’s business.