OREANDA-NEWS. April 30, 2009. A meeting was held in Upper Pyshma in the Sverdlovsk region on the implementation of the Company’s investment programme and the tasks of the Urals Region in the supply of railway equipment, reported the press-centre of Russian Railways.

Following the meeting, Vladimir Yakunin, President of Russian Railways, and the managers of Cinara - Transport Vehicles and TransMashHolding signed a Charter of Fundamental Principles of Cooperation in the field of transport engineering.

“The Charter focuses on improving competitiveness and ensuring high-quality products. Its aim is that businesses take on voluntary commitments to implement the standards of transport engineering,” said Yakunin.

The Charter also aims at achieving high long-term economic and social results based on a balance of interests between Russian Railways and Russian engineering companies in the transport sector. This will ensure the sustainable development of rail transport in the Russian Federation until 2030.

The development of transport engineering will in addition contribute to the improvement of price formation of manufactured products. This will include switching from a resource (cost) method of price formation for new types of rail technology to a method for determining prices based on the cost of the entire product lifecycle and taking into account international practice.

As a result, the innovative development of Russian enterprises in transport machine building and engineering will receive a powerful impetus.