BERLIN - Bombardier Transportation and Transmashholding, a Russian rail technology manufacturer, announced the signing of an agreement on Friday creating two joint ventures: an engineering joint venture to develop advanced propulsion technology and technical solutions for railway equipment and a production joint venture to manufacture a family of traction converters based on Bombardier’s MITRAC propulsion technology.
The total investment will be $16.9 million in both joint ventures.
The engineering center will be located in Moscow and is expected to be in operation by the autumn of 2007.
The manufacturing joint venture will produce the first traction converter family at Transmashholding’s plant in Novocherkassk, Russia. At least 600 converters are planned for production by 2012.
With the market demand expected to be at 7,500 new locomotives in Russia by 2015, the joint ventures will ensure that these needs can be met.
Bombardier's MITRAC technology is a state-of-the-art propulsion and control system for rail vehicles and trolley buses.
