Transmashholding, Pakistan sign memorandum
MOSCOW. Oct 2 (Interfax) - CJSC Transmashholding (TMH) and the Pakistani Railway Ministry have signed a memorandum of cooperation, TMH said in a press release.
"The sides agreed to work together to determine railway projects within which Pakistan may be interested in Russian company production and Transmashholding in investments and technology transfer," the release says.
A specially formed supervisory committee will coordinate activities and meet at least once a year.
"Pakistan is a new market for TMH. We are willing to offer products that can significantly increase the efficiency of the country's transport system," TMH Commercial Director Shukhrat Makhmudov is cited as saying.
The Pakistan railway is 7,791 km and electrified track - 293 km. The country uses several wheel standards but the most widespread are 1,676 and 1,000 mm.
TMH, Russia's largest producer of rolling stock for railways and subways, has plants in St. Petersburg, Bryansk, Penza, and the Moscow, Rostov and Tver regions. OJSC Russian Railways (RZD) and France's Alstom each own 25% plus one share in the company, and the remaining shares are owned by businessmen Iskander Makhmudov and Andrei Bokarev, as well as divisions of Transgroup.