OREANDA-NEWS. September 24, 2009. Azovmash will create the Ukrainian-Kazakh joint venture, which will produce gondola cars, box cars and tanks. Akmolynsk Car Repair Plant will become Azovmash partner in Kazakhstan. Both companies have already signed an intention agreement, but they do nod disclose exact terms of starting this project.

Millennium Capital sees this news as POSSITIVE for Mariupol Heavy Machinery Plant < MZVM UZ U/R > and Azovzahalmash < AZGM UZ U/R >, which are members of Azovmash Concern. The main reason is that Kazakh Railways will also be a party of this project, and its demand is about 10-15 thousand railway cars for next few years. This partnership may improve order books for MZVM and AZGM, and allow them become stronger at new market.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.