Seven Russian companies signed an agreement for the development of India’s railway sector. The document was signed by the representatives of Russian Railways and RZD International, Russian Agency for Export Credit and Investment Insurance, Sberbank, Sinara – Transport Machines, Elteza and Research and Design Institute of Informatization, Automation and Communication in Railway Transport.
The realization of the signed agreement will be implemented through the conclusion of separate agreements between the parties.
The document also allows the possibility of joining the agreement of other parties, which are participants of the railway sector of Russia. The fact of such accession will be formalised by signing an additional agreement to this document by all parties.
According to the document, the sides express their readiness to jointly cooperate for the implementation of complex infrastructure projects in India, including, inter alia, designing, constructing, modernizing railway infrastructure facilities, supplying and localizing the production of railway machinery, equipment and materials, on a mutually beneficial basis.