Russian industrial-railway company Transmashholding (TMH) announced on Tuesday (18.10.2017) in Buenos Aires that it will invest 170 million euros (about 200 million dollars) in Argentina.
The disbursement plan will be intended for the modernization and construction of workshops for the maintenance, repair, modernization and finally the manufacture in Argentina of locomotives and vehicles, both for the transportation of passengers and cargo.
According to the company in a statement, the The investment plan, presented on Tuesday by company executives to Argentine President Mauricio Macri, includes the training of railway operators and engineers.
The meeting with Macri, which took place at the presidential residence in Olivos, was attended by Russian businessman Andrei Bokarev, the main shareholder of TMH; the executive director of TMH Russia, Kirill Lipa; and the president of TMH International (based in Switzerland), Hans Schabert.
The Argentine Minister of Transport, Guillermo Dietrich, was also present at the hearing.
"We are coming to Argentina for three reasons: the economy is recovering, there are very good projects to invest in and the Argentine railway industry requires a strong process of modernization, so there is a lot of room for growth," the Russian businessmen said in the statement.
The company plans to participate in upcoming tenders for railways in Argentina.
Source: Reuters
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