Sinara sees BRICS countries as strategic markets for rolling stock exports

YEKATERINBURG. March 29 (Interfax) - Sinara Group sees BRICS countries as strategic markets for rolling stock exports, the Russian company's government relations director, Mikhail Boiko said.

"We all understand the situation in which the Russian economy now finds itself, we understand the international situation, so we clearly see that there are the BRICS countries and the countries that are seeking to join BRICS in the near future. It is them that we foremost see as strategic markets for our exports," Boiko said in an online seminar on a new bond offering from the group's transport engineering division, Sinara Transport Machines (STM).

He said Sinara already has projects beyond the region with 1520 mm track gauge, which includes the former Soviet Union and a few other countries.

In addition, Sinara plans to expand the practice of forming joint ventures with national high-tech manufacturers, he said.

"I won't name the country now, but there is a successful case where we designed a certain type of equipment for the requirements of a foreign railway administration and are supplying assembly kits to this country. And then, already together with the technology partner, we are ensuring assembly of this equipment and its certification and, what's very important, subsequently providing servicing. We will replicate such projects going forward," Boiko said.

STM, Sinara Group's rolling stock manufacturing division, increased the share of exports in its rolling stock sales by 150% to 8% in 2023. STM has 24 production facilities and more than 80 service centers.