Indo-Russian Joint Venture Kinet Sets Up 3 Depots for Vande Bharat Project

• Indo-Russian joint venture Kinet is set to supply 1,920 Vande Bharat sleeper coaches to Indian Railways.

• The Marathwada Rail Coach Factory in Latur, taken over by Kinet, is undergoing equipment installation and will be equipped with a state-of-the-art assembly line.

• The plant is undergoing equipment installation and will be equipped with facilities such as body shop, storage, assembly, testing, and trolley and paint shop.

• TMH CEO Kirill Lipa stated that India has emerged as a key hub for development and procurement of spare parts post-Russia-Ukraine War sanctions.

• TMH is looking to support the development of three depots, including the Latur factory, for indigenous train set manufacturing in India.

• The total working capital for upfront investment exceeds $150 million, with revenue expected to start after first prototypes are delivered next year.