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VEB.RF Begins to Finance New Generation of Russian Passenger Carriages

7 november 2024 года
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Tver, 7 November 2024. VEB.RF has begun to finance a project of Tver Carriage Works (part of Transmashholding) to make a new generation of passenger carriages. The concessional loan agreement for 7.5 billion roubles was signed in June 2024. The total budget of the project using the Cluster Investment Platform mechanism is 9.37 billion roubles. The project involves the manufacture of electric multiple units equipped with domestic critical components and units.

It is intended that the project will start the manufacture of new types of carriages by 2027. This will substantially improve passenger comfort and encourage rail transport.

The project will be in the investment phase for three years, until June 2027. Tver Carriage Works intends to increase its capacity during this period to produce Ivolga electric multiple units on a large scale to meet the growing demand for Moscow Central Diameter transport services, including the planned expansion of Moscow Central Diameters into the regions.

In addition, the manufacturer will start the large-scale production of a new model range of single-level carriages in size T as well as launching a new model range of double-deckers with enhanced characteristics and an increase in the run between overhauls to 25,000 kilometres.

It is intended that the project will deliver approximately 2,000 carriages in size T, more than 1,000 double-deckers in a new design, and over 600 three-door carriages for electric multiple units in total.

The project was set up under the Cluster Investment Platform programme, a unique mechanism launched last year to subsidise interest rates. The total value of projects approved by an interdepartmental commission for the Cluster Investment Platform programme with the potential involvement of VEB.RF has reached approximately 130 billion roubles to date, with VEB.RF’s planned commitment of about 83 billion roubles.

Daniil Algulyan, Deputy Chairman, VEB.RF, and a member of the Bureau, Russian Engineering Union: “Investment in promoting the manufacture of Russian railway carriages is a strategically important step towards a higher quality of rail transport and improvements in the country’s transport infrastructure. We are confident that Transmashholding’s new project to make modern passenger carriages will provide a solid foundation for comfortable and safe travel by rail for all Russians.”
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