Russia's UVZ looks to enter Viet Nam market

Sunday, Sep 08, 2013 08:40

Uralvagonzavod (UVZ) is a Russian machine building company located in Nizhny Tagil, Russia. It is one of the largest scientific and industrial complexes in Russia and the largest battle tank manufacturer in the world. — File Photo

HA NOI (Biz Hub)— Russian's Uralvagonzavod (UVZ) has proposed a joint venture company in Viet Nam to manufacture 2,000 train carriages annually.

The proposal came after Viet Nam approved a plan for rail transport development, which has drawn the attention of Russian experts, particularly from UVZ, according to the Russian Ministry of Economic Development.

The ministry has pledged UVZ will invest significant funds into the project. The firm began making railroad cars in 1936.—VNS

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