Sinara subsidiary and TMH-Service to vie for almost 75% in Zheldorremmash
MOSCOW. Oct 22 (Interfax) - OJSC Lyudinovsky Diesel Locomotive Plant (LTZ, Kaluga Region), which is part of Dmitry Pumpyansky's Sinara Group, and LLC TMH-Services, which belongs to in CJSC TransMashHolding (TMH), will vie for 75% minus two shares in OJSC Russian Railways' (RZD) subsidiary, OJSC Zheldorremmash (ZDRM).
"Following a review of tender applications by RZD's tender committee, a decision was made to recognize [two] participants," the tender organizer, TransCreditBank (TCB), said in a notification, which was posted on its official website on Monday.
The starting price for the ZDRM stake is 7.9 billion rubles. Bids were accepted from August 15 to October 12, and the results are to be announced on November 1. The winner can be a Russian or foreign company. It was earlier reported that, besides Sinara and TMH-Service, RZD considered Canada's Bombardier, Germany's Siemens, France's Alstom and other companies as potential buyers.
In the technical part of the proposals, bidders must propose a technical readiness ratio for locomotives of each series for 2013-2017 that they would be obligated to maintain in ZDRM operations involving the repair and modernization of rolling stock.
ZDRM was formed in 2008 from the assets of ten RZD locomotive repair plants: in Yekaterinburg, Rostov, Novosibirsk, Chelyabinsk, Yaroslavl, Astrakhan, Voronezh, Ulan-Ude, Orenburg and Ussuriysk (Primorye). The company closed 2011 with a net profit of 170 million rubles on revenue of 31.2 billion rubles.
