Uralvagonzavod Corporation, Cuban partners to set up logistics JV

April 24, 2015. An agreement was signed by Uralvagonzavod Corporation and a number of Cuban industrial enterprises at the 13th Intergovernmental Russian-Cuban Trade & Economic and Scientific & Technological Cooperation Committee meeting in Kazan.

The corporation’s press service reports UVZ Logistic, Cuba’s Grupo GESIME and Cuban Railways signed an agreement in the presence of Russian Vice Premier Dmitri Rogozin. The plan is to set up a transportation and logistics joint venture and to get the facilities of Planta Mecánica, a machine-building plant, upgraded. The plant will then deal in repair, maintenance, and assembly of freight cars for Cuban Railways. The corporation’s total investment package, which comprises shares of Russian banks and EXIAR (Export Insurance Agency of Russia), will come to at least ˆ25m. The JV will have been set up by the end of the year, with funding beginning in 2016.

‘Some agreements between the corporation and Cuba’s Tradex were also reached. We have decided on the parameters of the freight cars for the assembly plant. This project will be completed in 2015 and 2016,’ says Uralvagonzavod’s PR Director Yuri Lyzhin.

The company’s Cuban partners were presented the new JV’s financial scheme and the rough plan for the reconstruction of Planta Mecánica.

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