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Joint venture for subway trains in Russia

Posted on 22 Jan 2020 and read 904 times
Joint venture for subway trains in RussiaSkoda Transportation and Sinara Group have signed an agreement to establish a joint venture for the production of subway trains, trams and trolleybuses in Russia; both parties will have the same share in the new business, and the products of the joint venture will be marketed under the Sinara-Skoda brand.

Petr Brzezina, chairman of the Skoda Transportation group (www.skoda.cz), said: “Russia is a huge and promising market in which we want to establish ourselves in the long term.

"The local fleet requires a massive renewal, entailing large investments and opportunities.

In Sinara Group, we see a stable and reliable partner with whom we will be able to develop the production of electric vehicles for public transport in Russia.

"Skoda has supplied many high-quality products to the local market in the past, and I firmly believe that we will be able to build on our previous successes with a strong partner.”

Viktor Les, CEO of Sinara-Transport Machines (www.sinaratm.ru), said: “Through our partnership with Skoda Transportation, we will create high-quality modern vehicles for public transport, such as next-generation trams.

"Our experience in development, production and service will enable us to create products that will out-perform existing vehicles in terms of comfort, ergonomics, energy efficiency and environment-friendliness.”

Founded in 2001, Sinara Group is a Russian investment company based in Yekaterinburg, investing primarily in real estate, transport engineering and financial services.

Its Sinara-Transport Machines subsidiary is mostly engaged in the production and full service of locomotives and other vehicles.

The company was founded in 2007 and has 30,000 employees.