A PYMNTS Company

Russia: Domestic train maker triumphs over foreign rivals for massive tender

By  |  November 30, 2014

A Russian train manufacturer has won the bidding war to secure a tender to supply trains for the Moscow metro after several foreign rivals dropped out of the auction, say reports.

Metrovagonmash won the bidding to supply 96 trains to the metro over a 30 year period. The tender was secured for about $2.6 billion below starting price, according to reports.

Metrovagonmash triumphed over foreign rivals and will remain the metro’s only train supplier, which it has been since the 1930s, reports say.

While several foreign companies, including Siemens and Hyundai, had expressed interest in the bidding, none participated, leaving Metrovagonmash the sole bidder.

Full content: The Moscow Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.