Sinara Group, Union de Ferrocarriles de Cuba, EXIAR Sign Agreement

UrBC, Yekaterinburg, June 20, 2016. Sinara Transport Machines (part of Sinara Group), Union de Ferrocarriles de Cuba, and the insurance company EXIAR signed a trilateral agreement to supply locomotives, buses, and railway equipment to Cuba, Sinara Group’s press service reports.

The agreement was signed by the Union’s head Miguel Antonio Acuña Fernández, EXIAR Director-General Alexei Tyupanov, and STM Director-General Evgeniy Gritsenko. The ceremony was also attended by the Vice President of the Council of Ministers Ricardo Cabrisas Ruiz of Cuba, Russia’s Industry & Trade Minister Denis Manturov, and Sinara Group Chair of the BOD Dmitry Pumpyansky.

Under the terms of the agreement, the parties will sign a five-year contract to supply STM’s new locos to Cuba before August 10. The contract will also cover their overhauls, supplying spare parts, and providing equipment necessary to retool the depot in Havana. EXIAR will be in charge of negotiating with Russian banks and will provide insurance coverage for the contract funding.

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