Uzbekistan Railways inks documents for US$53m within investment forum

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December 2, 2015

Uzbekistan Railways inks documents for US$53m within investment forum

uzbek_railwayUzbekistan Temir Yollari (Uzbekistan Railways) inked memorandums of understanding and agreements with foreign investors for almost US$53 million within the International Investment Forum in Tashkent (5-6 November 2015).

In particular, Uzbekistan Temir Yollari and China’s XCMG inked a memorandum of understanding on purchase of 44% stake in Urgench Excavator Plant.

Currently, specialists of Uzbekistan Temir Yollari and the Chinese investors establishment information exchange.

Uzbekistan Temir Yollari also signed a memorandums on organization of production of asynchronous traction motors on the base of Tashkent mechanic plant and on modernization, rehabilitation and production of cargo cranes and mechanisms with Teichmann Group (Germany).

Currently, the working groups on realization of investment projects were created and it is planned to develop project documentation, reconstruct building and connect utilities, as well as prepare agreements on joint ventures in 2016.

Uzbekistan Temir Yollari and Spain’s Talgo signed an agreement on purchase of two Talgo trains, UzA reported. The contract cost is 38 million euros.

Currently, Uzbekistan Temir Yollari uses two locomotives and 16 passenger cars of Talgo. High speed trains Afrosiyob are used on route Tashkent-Samarkand-Qarshi.

Olim Qurbonov, head of department of Uzbekistan Temir Yollari on organization of movement and exploitation of high speed passenger trains, said that the train will have two more cars.

He said that new train will consists of two locomotives, 10 passenger cars and restaurant car, which will be able to transport 287 passengers.

New trains will be used at the high-speed route Tashkent-Bukhara, which will be launched in September 2016. The project cost on construction of railway from Samarkand to Bukhara estimated at over US$400 million.