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Russia’s Metrowagonmash receives export support of R4bn

Russia’s Metrowagonmash receives export support of R4bn

MOSCOW: Russian metro car manufacturer Metrowagonmash has received support of R4bn (US$50,000) from the country’s ECA, Exiar, and its export-import bank, for exports to Hungary.

The loan will provide Metrowagonwash with working capital to fulfil an export contract to reconstruct and modernise the Budapest metro’s electric trains, which include 222 cars, and to provide training and spare parts to the metro’s operator, Hungary’s BKV.

The facility was provided by Eximbank of Russia and insured by Exiar. The ECA recently supported exports of steel teeming ladles from Russia to Belarus, after opening its first international representative office in Minsk.