Printer Friendly

Russian Federation : GE, TMH set up 50/50 joint venture.

GE and Russian manufacturer Transmashholding (TMH) have inked an agreement to set up a new 50/50 joint venture.

The agreement is subject to regulatory approvals.

Under the partnership agreement, production of GE Evolution Series diesel engines will be localized from a new facility in Penza, Russia, to support the manufacture of locomotives for Russian Railways (RZD).

According to GE, over US $70 million will go towards the new factory, equipment and training.

Transmashholding has high expectations for the future of this joint project with GE to develop and produce state-of-the-art diesel engines, said Andrey Bokarev, president of Transmashholding.

It will significantly expand our expertise and the range of products we offer to the market. In combination with our existing solutions, we will be able to offer engines to our customers that precisely meet their needs. Its particularly noteworthy that the new venture will produce engines not only for the Russian market, but also for export.

Initially, the annual production of the new facility will be up to 250 engines.

[c] 2016 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2016 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Geographic Code:4EXRU
Date:Feb 6, 2016
Words:183
Previous Article:New Zealand : KIWIRAIL to utilize Rubber Bridge to supplant Iron Bridge over Cook Strait.
Next Article:Korea Republic of : YG ENTERTAINMENT to make investment in EDM festival.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters