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Russian support for construction of rolling stock plant in Vietnam

02 Dec 2013

VIETNAM: Russian rolling stock, construction machinery and defence equipment supplier Uralvagonzavod could participate in the development of a rolling stock plant in Vietnam, following the signing of a memorandum of co-operation with Vietnam-Russia Joint Venture Bank.

The memorandum was signed in Hanoi on November 12 in the presence of national presidents Truong Tan Sang and Vladimir Putin.

UVZ's involvement in the planned rolling stock assembly plant would be supported by VRB, a joint venture established by Russia's VTB Bank and the Bank for Investment & Development of Vietnam to provide project financing, international trade financing and loan services for Russian companies in Vietnam.