RM Rail and the Government of the Republic of Khakassia signed a cooperation agreement

RM Rail Abakanvagonmash (part of RM Rail, a leading manufacturer of freight rolling stock in Russia) and the government of the Republic of Khakassia signed a cooperation agreement in the course of Krasnoyarsk Economic Forum 2022. The purpose of the agreement is to collaborate in implementation of major production projects.

The parties agreed to cooperate in the implementation of 2022-2025 investment program. The company's capital investments will amount to more than 471.5 million rubles.

In the near future, RM Rail Abakanvagonmash will launch a new service related to scheduled repairs of freight rail cars. The site upgrading is underway, additional jobs have been created, the enterprise intends to hire up to 300 employees. Vacancies are open for arc welders, painters, process engineers, turners, locksmiths, quality control inspectors - more than 20 specialties in total. With the service entitlements for rolling stock maintenance received, a large service center will appear in Eastern Siberia already this year.

Another project is intended to ramp up the output of containers. It is planned to increase the volume of production more than twice. Containers are the main product for the company distinguished by high quality and a wide range of models. In February, RM Rail Abakanvagonmash has certified a special purpose container for bulk and packaged cargoes. Other highly efficient models are also being developed. All this ensures competitiveness versus foreign counterparts. However, government support measures are needed to maintain buyer demand. This could be done through outright grants for buyers or preferential leasing, disposal charge, defensive duties. It is here that the assistance of the federal authorities and the leadership of the region is most crucial.

Valentin Konovalov, the Head of the Republic of Khakassia:

- Abakanvagonmash is our responsible partner and investor. Investments always mean development. Increasing production volumes, opening new promising areas of work strengthen the economic potential of the republic, create new jobs. Signing of the agreement is an excellent example of mutually beneficial cooperation between government authorities and private business. Our joint efforts will drive the production further.

Alexander Girich, Managing Director of RM Rail Abakanagonmash:

- These are the projects of the region-wide importance. They have a pronounced social and economic effect and largely depend on the support by our partners. We plan to join efforts with the government of Khakassia and fulfill undertaken commitments.