Russian firm to supply metro cars

In its first venture into India's market Russian railway engineering major CJSC Transmashholding is in talks with the railway ministry for supply of light-rail metro, passenger cars and rakes.

Transmashholding, which is a private company, was formed in 2002 after acquiring railway manufacturing units which were till then held by the government.

The company is a regular supplier to countries which were earlier part of the Russian federation. It has grown ten-fold in the last four years.

Its revenues have shot up from $200 million in 2002 to $2085 million in 2006. The company's investment in R&D has increased from $3 million in 2002 to $142 million in 2006.

The railways were particularly interested in the specially designed freight cars that the company produces.