Russian Railways, TMH International, the Russian Agency for Export Credit and Investment Insurance (EXIAR) and Aenergy, an Angola-based company, signed a MoU to start the cooperation on the development of Angola’s railway sector.
The agreement was signed by Dmitry Pryakhin, the general manager of TMH International, Alexander Misharin, RZD First Deputy Managing Director, Gusakov Nikita, CEO of EXIAR and Jorge Morgado, the CEO of Aenergy.
Under the agreement, the companies will cooperate for the development of railway projects in Angola, ensuring the development of the national railway sector, gaining autonomy and restoring the regional competitiveness.
The purpose of the memorandum is the implementation of integrated projects, including financing, technology exchange and the provision of services with a high degree of localization.
The projects include the modernisation of the railway infrastructure, stations and specialised terminals as well as the construction or modernisation of repair and maintenance facilities. In addition, the sides will jointly participate at the tenders for the supply of new rolling stock and provision of relates services, will be involved in the financing of the projects and will train the local personnel.
The parties will create a working group to analise priority areas of work according to the strategy developed by the Government of Angola. In the same time, the companies will assess prospects and develop an action plan.
The increase of country’s rail industrial capacity through the supply of new passenger cars, electric and diesel locomotives, and adaption of the specialized freight cars for various types of cargo, are among the potential projects which would be performed.
Currently, TMH is present on African railway market through TMH Egypt and TMH Africa subsidiaries.
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