Metrovagonmash wins $2.6bn Moscow Metro contract

 Metrovagonmash, the Russian train maker, has won the international contract to supply 96 trains for the Moscow Metro after several major foreign producers declined to take part. Metrovagonmash is  a subsidiary of Russia’s biggest rail car and equipment producer Transmashholding, and has agreed to supply the new trains and service them over a 30-year period for around RUB130 bn ($2.6bn). Overseas contractors who had expressed an earlier interest in the contract included Siemens, Bombardier, Alstom, CAF and Hyundai but are believed to have pulled out as they could not meet the tender’s stipulation that 70% of train production work needed to be undertaken domestically.The Moscow Times