A long-term agreement between the Russian Railroad Ministry and the Nizhny Tagil Metal Works (NTMK) on purchasing the products of the company will be signed in the near future. According to Railway Minister of Russia Gennady Fadeyev, the Ministry is going to buy wheels, rails and bands produced by NTMK to the amount of RUR3bn (about $95.98m) in accordance with the needs of the Ministry.
As the NTMK reports, the agreement between the Railroad Ministry and NTMK will determine the specific list of products, the terms and the volume of their supplies. In addition to that, a decision was made to sign a trilateral agreement on the collaboration of the Ministry, NTMK and Uralvagonzavod, a carriage producer. NTMK general director Sergey Nosov informed the Minister of the reconstruction of the company's wheel workshops, which was underway. Fadeyev stated that the Railroad Ministry was interested in the expansion of wheel production at NTMK.
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