Uralvagonzavod commences manufacturing of freight cars in Kazakhstan

uvzThe Uralvagonzavod Research and Production Corporation, OJSC intends to become a co-owner of transport machine-building enterprises in the Republic of Kazakhstan. The partnership agreement between the corporation and the KTZH National Company, JSC was signed within the framework of the Second Railway Congress that was held in Moscow on November 18-19, 2011.

The representatives of the Press Service of the corporation have informed RusBusinessNews that Uralvagonzavod will purchase shares of the Vostokmashzavod, JSC (Ust-Kamenogorsk) and an interest in the Kazakhstan Railcar Building Company, LLP (Ekibastuz). According to Oleg Sienko, General Director of the corporation, thanks to Uralvagonzavod, Kazakhstan will have a national manufacturer of rolling stock. In future, through joint efforts there will be new enterprises that will be able to start their own manufacturing of railcars.

The price to be paid for the shares and participatory interest will be defined after the comprehensive financial and legal examination of the enterprises and appraisal in terms of the fair market value in accordance with the requirements set by the legislation of the Republic of Kazakhstan.