Friday, July 20, 2018

Transmashholding launches joint production venture with Lithuanian Railways

Transmashholding recently signed a memorandum of cooperation to establish a joint venture with Lithuanian Railways in the field of locomotive production and rolling stock.

The memorandum will require expert support and advice on project development and implementation in Lithuanian territories.

The two companies will also develop the transport sector through research and through rail infrastructure modernization and technological innovations of rolling stock.

Sergejus Grechukas, the head of TMX in Lithuania, said the last decade of cooperation has been effective and that the memorandum will enhance the relationship and contribute to solving problems of modernization of Lithuanian railways and the development of complex engineering projects.