Metrowagonmash class in Rolling Stock Supply Combor Internet Complication to 35 % to avoid penalties.
In an attempt to avoid the economic sanctions imposed by Western countries on Russia after their invasion of Ukraine, the Indian railway (IR) restructuring the joint project of Russian and Indian companies that received a contract worth 145 billion rupees ($ 1.76 billion) in 2023 to provide 120 sleeping variables in Vandy Bahrat.
The shares of the joint Kinet Railway Solutions project kept by the shares of Metrowagonmash shares from 70 % to 35 %, while the share of its colleague in the Russian supplier electronics system (LES) has increased from 5 % to 40 %. Although Metrowagonmash faces sanctions, Les is not.
The Indian class in KINET is still 25 % changing, which is held by Rail Vikas Nigam (RVNL). This is a governmental institution with its majority shareholders is the Ministry of Iron railways, which runs the stock production facilities traded in Sonipat and Latur.
Under the joint venture project, Metrowagonmash and Les will receive two -thirds of the contract amount or 800 million rupees per train, and RVNL will get a third or 400 meters rupees.
According to what was reported, IR restructured KINET in response to fears that the suppliers of European components will withdraw from the project if the sanctions continue to impose on the previous majority partner Metrowagonmash. Earlier this year, IR Coach Coach Factory (ICF) granted a contract worth 144 million euros to provide traction equipment and other electrical components.
Sanctions were first imposed on Metrowagonmash in 2023, in the same year that IR was awarded the Vande Bharat Sleep. According to the IR official, the decision to change KINET was taken in 2023 but has now become a record of record.
KINET was originally granted a contract to supply 120 cars from 160 cars at a cost of 1.26 billion rupees per train. IR later asked the joint project to provide a train train 24 cars instead, causing a dispute and several months of delay, but it seems that the project is now returning to the path after IR retreated and returns to the design of 16 original cars.
According to IR sources, KINET will ensure the availability of critical ingredients, while the RVNL official said the changes will also improve the project costs, as IR will have more options for ingredients. However, the main threat remains that the sanctions will also be imposed on the Russian resource.
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