Uzbekiston Temir Yullari State Joint Stock Railway Company (Uzbek Railways) has completed implementation of a project to develop the repair base of rolling stock, organisation of coach building and reconstruction of the production foundry for the Casting and Mechanical Plant (subsidiary of Uzbek Railways), a management source in the company told to Trend on Wednesday.
According to the source, as part of the framework of this project worth $120.18 million, reconstruction of the foundry for steel production, cast iron and non-ferrous castings with an output of 25,000 tons annually, work on developing the repair base of rolling stock and organisation of coach-building were carried out.
As a result of the project's implementation, the plant will be able to manufacture up to 1200 freight wagons, 950 containers, and overhaul and modernise up to 1500 freight wagons.
The project was self-financed by Uzbekiston Temir Yullari to the sum of $71.38 million and credit of $48.8 million from the Fund for Reconstruction and Development of Uzbekistan.
The subsidiary Casting and Mechanical Plant was founded in 2003 on the base of the Irgidromash plant.
The company specialises in the construction of covered wagons and those being overhauled, restoring and extending the life of freight wagons and manufacturing of components and spare parts for rolling stock and track structure.
The Casting and Mechanical Plant received a certificate and permit for construction of a batch of wagons in the Federal Railway Transport Certification Register of Russia which is an opportunity to gain access to the orders not only in the promising market of Russia, but also Belarus and Kazakhstan where the document is valid.
The total length of railways in Uzbekistan runs to 4200 kilometres. Uzbekistan's railways accounts for 60 per cent of turnover in the country and almost 80 per cent of the total export and imports of cargo.