Russia signs rail sector deal with Angola at Russia-Africa summit in Sochi

Russia and Angola have signed a rail sector cooperation agreement at the first ever Russia-Africa summit holding in Sochi.

TMH, the Russian railways, EXIAR – the Russian Agency for Export Credit and Investment Insurance – and Aenergy signed a Memorandum of Understanding for cooperation in the Angolan rail sector. 

The document was signed by Dmitry Priakhin, General Director of TMH International, Alexander Misharin, First Deputy General Director of the Russian Railways, Nikita Gusakov, CEO of EXIAR and Jorge Morgado, CEO of Aenergy, during the Russia-Africa Economic Forum in Sochi (Russia).

The parties commit to join forces to promote, co-develop and implement railway projects in Angola, supporting the development of the national rail sector and its objective to gain autonomy and recover regional competitiveness. 

The memorandum focuses on the delivery of integrated projects, including structured financing, technologies and services, with a comprehensive degree of localization.  

The announced cooperation includes rail infrastructure rehabilitation projects, such as construction or modernisation of railway infrastructure, repair workshops, rail yards and specialized rail terminals; joint participation in tenders to supply rail equipment and services; project financing, based on Russian grants for development and on export credit instruments and training of local workforce.

The Parties will establish a working group to define priorities in accordance with the strategy established by the government of Angola and elaborate an action plan to support the implementation of pilot projects after checking their feasibility. Among potential pilots, the recovery of repair capabilities in the country, specifically wheel repair; the supply of rolling stock including diesel and electric trains, locomotives, shunters, passenger cars; the adaptation of specialised cargo wagons for dry and liquid, bulk and containerized cargo.

TMH is present in Africa through its subsidiaries TMH Egypt and TMH Africa. TMH has developed a competence center for the narrow-gauge market in its industrial facility at Boksburg, South Africa where it employs 200 people. 

Aenergy, is a Pan-African “end-to-end solutions provider”, working in Africa for Africa to improve sustainable development, with turnkey solutions. Aenergy is specialized in integrating structured financing and aggregating technologies and services to deliver innovative and competitive solutions for new public-private strategic investment. The company develops projects to the highest international standards and implements projects in gas-to-power, rail transportation and mining services. 

TODAY NEWS AFRICA
TODAY NEWS AFRICA
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