Transmashholding, the largest producer of rail transportation rolling stock in Russia, and Rail Vikas Nigam Ltd (RVNL) of India have agreed to form a joint venture called Kinet Railway Solutions Ltd. In India, the new business will provide and maintain Vande Bharat trains.

On a visit to the Ulan-Ude Locomotive Car Repair Factory, Russian Prime Minister Mikhail Mishustin informed Transmashholding Director General Kirill Lipa about the signing of the deal. The proposal states that 120 long-distance electric trains with berths will be built in total. Within five years of the contract’s signing, rolling stock manufacture will begin in the city of Latour in India. During 35 years, equipment service and maintenance will be performed.

According to Interfax, the Russian side would hold 75% and the Indian side will control 25% of the new joint company. The business, along with employees from Indian Railways, won the largest train tender in history, valued at $6.5 billion, according to Transmashholding’s general director. A contract with Indian Railways should be signed as the project’s next step.

The largest Russian developer and producer of contemporary multi-unit rolling stock is Transmashholding. The firm specializes in designing rolling stock and electronic traffic management systems. It provides rail operators and manufacturers in 30 countries with passenger trains and carriages, metro trains, locomotives, engines, and components.