Russia to provide 10 bln rubles in subsidies for Russian Railway's purchase of Transmashholding's products in 2025
HANOI. Jan 14 (Interfax) - The Russian state will subsidize Russian Railways' (RZD) purchase of products made by JSC Transmashholding (TMH) enterprises in 2025, head of TMH Kirill Lipa told journalists.
Deputy Prime Minister Denis Manturov told journalists at the start of January that the authorities had approved additional subsidies for locomotive manufacturers amid cuts to RZD's investment program.
Asked what amount of subsidies TMH expects to receive, Lipa said that the approved amount is 10 billion rubles. RZD will be the recipient. It will use the funds to purchase rolling stock produced by TMH.
"It [the subsidy] is divided into two parts. One part is the funds that will be allocated to the Demikhovsky Machine-Building Plant [DMP, which produces DC and AC electric trains and components for railway equipment, and repairs rolling stock]. That's the supply of electric trains. The second part is [for] purchasing electric locomotives at the Novocherkassk plant [Novocherkassk Electric Locomotive Plant]," Lipa said.
"This [the allocation of subsidies] will ease the situation, but the situation with the DMP is not good at all. We have a load of around 30% this year. So there is an assignment from the prime minister; we'll discuss it until the end of January. I mean this is not the end of the story," he said.
As reported, at the end of December RZD's board of directors approved the company's 2025 investment program in the amount of 890.9 billion rubles. RZD's investment program for 2024 totaled 1.275 trillion rubles. Its actual fulfilment for the year has not yet been disclosed. According to the Kommersant newspaper, it is estimated at 1.49 trillion rubles.
TMH is Russia's largest manufacturer of rolling stock for rail transportation. It is headquartered in Moscow. The holding includes production and assembly facilities in Russia and other countries, with a geography of operations encompassing 30 countries.
