Russian VEB to finance supplies of metro carriages to Uzbekistan

Business Materials 31 May 2019 12:44 (UTC +04:00)

Baku, Azerbaijan, May 31

By Fakhri Vakilov – Trend:

Vnesheconombank of Russia (VEB RF) will finance a project for the supply of five metro trains, as well as related material and technical means and services for the Tashkent metro (Uzbekistan), Trend reports citing Uzbek media.

In the framework of the working visit of Prime Minister of Russia Dmitry Medvedev to Uzbekistan, the Russian VEB and the National Bank for Foreign Economic Activity of Uzbekistan (NBU) signed a loan agreement on the financing of this project.

The rolling stock will be produced at the Moscow-based enterprise JSC Metrovagonmash, which is part of JSC Transmashholding, the largest Russian manufacturer of rolling stock for railway and urban rail transport.

First Deputy Chairman and Member of the Management Board of VEB.RF Nikolay Tsekhomsky and Chairman of the Management Board of NBU Alisher Mirsoatov signed the agreement.

Metrovagonmash JSC will send a batch of new generation metro cars to operate on the Tashkent metro line. The corresponding contract of JSC Metrovagonmash was concluded with JSC Uzbekistan Railways in October 2018.

Tsekhomsky noted that supporting the export of Russian industrial products is one of the main activities of VEB.RF. In October 2018, VEB.RF and NBU announced cooperation and strategic partnership in financing the supply of Russian high-tech products.

With the support of financial institutions of Russia and Uzbekistan, projects totaling more than 200 million euros are already being implemented in the country. The amount of financing by VEB.RF has reached 152 million euros.


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