OREANDA-NEWS. June 22, 2015. The sitting of the 13th Russian-Cuban intergovernmental commission on trade, economic, scientific and technical cooperation took place in Kazan.

The Agreement on the creation of the transportation and logistics company alongside with the modernization of “Planta Mecanica” machine-building plant was signed between LLC “UVZ-Logistic” and “El Grupo Empresarial de la Industria Sidero-Mec?nica” (GESIME), a Cuban ferrous metallurgy and machine-building group, in the presence of Deputy Prime Minister of Russia Dmitry Rogozin. A new-founded company will assemble, repair and service the freight rolling stock of the Cuban railways. A mutual investment package, including the shares of Russian banks and “Russian Agency for Export Credit and Investment Insurance” (EXIAR), will amount to not less than €25 million.

According to the agreement the transportation and logistics company will be formed by the end of the current year and the financing will start in 2016.

“We also came to an agreement between UVZ and “Grupo Empresarial Proveedora General del Transporte” (TRADEX) of Cuba. Parameters and technical characteristics of the freight rolling stock were agreed on. The project is expected to be implemented in 2015-16”, - Mr. Yuri Lyzhin, Director for External Relations of “Uralvagonzavod” stated.

The agreement was forestalled by a long work. During the 13th sitting of the Russian-Cuban intergovernmental commission on trade, economic, scientific and technical cooperation which took place in Kazan the financial model of the new transportation and logistics company and the general layout of the reconstruction of “Planta Mecanica” machine-building plant were presented to the Cuban side.