Uralvagonzavod is setting up joint ventures with Algeria and Iran

SVERDLOVSK REGION

 

The Uralvagonzavod Research and Production Corporation and Azar Kia Industrial & Trading Group (Iran) have signed a cooperation agreement. The parties are planning to set up a joint venture to assemble railcars from car bodies manufactured by Uralvagonzavod and trucks made by the Iranian company. Railcars will be offered for sale in Iran and neighboring countries.

 

RusBusinessNews has been informed by the Ministry of Industry and Trade of the RF that in 2015-2016 the target supply is about 3,000 railcars, and it will increase to 12,000 railcars by 2020.

 

In July Uralvagonzavod and Ferrovial, an Algerian company, signed an agreement of intent to set up a joint venture. It is planned that the Ural corporation will manufacture annually 1,000 freight cars at the factory in Africa. According to Uralvagonzavod representatives, the agreement also implies future involvement of neighboring countries.