19:37 Jul. 12, 2016
Memorandum between two companies was signed during Canadian delegation visit to Ukraine on July 11
Volodymyr Omelyan, Ukraine's Infrastructure Minister, says that the Ukrainian state-owned railway network company Ukrzaliznytsia signed a memorandum with the Canadian locomotive and airplane producer Bombardier to create a joint enterprise in Ukraine.
The press-release was published on the Infrastructure Ministry website.
"According to this document, a joint venture will be created in Ukraine that will manufacture rolling stock for the railway", Omelyan stated. "This is a fantastic opportunity for Ukraine to modernize its railway, and also a signal to foreign investors that investments into Ukraine - resources, funds, technologies - are not only safe, but profitable".
Bombardier is one of the largest producers of aviation equipment and railway trains in the world. The company employs 70,900 workers and received USD 18,2 billion worth of revenues last year.
Ukraine's Infrastructure Minister earlier stated that American Diversified Corporation General Electric, a manufacturer of many types of equipment, including locomotives, will soon provide Ukraine with its locomotive for testing it on Ukrainian railways.