Sinara Group, a Russian investment company with holdings in the property development, transportation and financial services sectors, has agreed with the Chinese corporation CRRC on the establishment of a joint venture in the territory of Russia.
The enterprise is intended to ensure the localization of the train production for high-speed railways. The corresponding document was signed following the results of negotiations between Russian President Vladimir Putin and President of the People's Republic of China, Xi Jinping.
Apart from the production of high-speed trains, the enterprise will engage in the assembly of other kinds of railway technics as well.
At present, Sinara Group and Siemens company, jointly with Chinese CRRC, are already cooperating in the project for the creation of a freight train.