Russian company UralVagonZavod, which manufactures railway cars or wagons, is interested in setting up a factory in Angola to produce stock for Angola’s railways, the chairman of the board of Russian bank VTB África, Igor Skvortsov said in Luanda.
The company is prepared to invest 10 billion kwanzas (US$104 million) and plans to find partners in Angola.
UralVagonZavod also plans o use Angola as a platform to distribute rolling stock to other African countries.
Angola currently buys its railway equipment from the People’s Republic of China and the United States of America.
Skvortsov made the announcement at the Russia-Angola Business Forum underway in Luanda. (macauhub)