24 May 2018 y.

Transmashholding and Kazakhstan Railways Sign Memorandum to Privatize Tulpar-Talgo Plant and Ship 1000 Passenger Railcars

During the St. Petersburg International Economic Forum, JSC “Transmashholding”, JSC “Kazakhstan Temir Zholy”, JSC “DBK-Leasing”, and JSC “Russian Export Center” have signed a memorandum to start negotiations on acquisition of Tulpar-Talgo, a KTZ’s passenger railcar manufacturer, by Transmashholding. 

Per conditions of the memorandum, parties have also agreed to start negotiations on execution and budgeting of the project of shipment of 1000 passenger railcars within 2018-2026 to KTZ.

The memorandum was signed by Kirill Lipa, General Director, JSC Transmashholding; Kanat Alpysbaev, Chairman of the Board, JSC National Company Kazakhstan Temir Zholy; Nurlan Baybazarov, Chairman of the Management Board, JSC “DBK-Leasing”; and Alexei Tupanov, Executive Director, JSC “Russian Export Center”.

JSC “Kazakhstan Temir Zholy” and JSC Transmashholding already have experience in successful railroad manufacturing cooperation. JSC Transmashholding is a shareholder of Lokomotiv Kurastyru Zauyty JSC, a manufacturing plant for diesel locomotives series “Evolution” for Kazakhstan railroads and CIS markets.

JSC “Kazakhstan Temir Zholy” and JSC Transmashholding are partners in an electric locomotive manufacturer joint venture LLP "Electrovoz kurastyru zauyty". The factory produces feight electric locomotives KZ8A for the railroads of Kazakhstan. 

Both Lokomotiv Kurastyru Zauyty JSC and LLP "Electrovoz kurastyru zauyty" are located in Astana, KZ. 

JSC Transmashholding and JSC “Kazakhstan Temir Zholy” decided to create a joint work group that will estimate the final cost of the deal, establish its terms and conditions, and take care of authorizations and approvals – international, state, and corporate.

The memorandum is valid until December, 31 2018.