National railway KTZ has cancelled orders for Talgo-designed but locally produced coaches to be supplied from the Tulpar-Talgo factory in Nur-Sultan, after exchange rate changes raised the cost of sourcing components from abroad.
The Tulpar-Talgo plant was opened by a joint venture of KTZ and Spanish rolling stock manufacturer Talgo in 2011 to produce coaches for the 1 520 mm gauge region. Talgo SA subsequently divested its stake, retaining only a 0·00074% holding which KTZ has now agreed to acquire.
Talgo SA told Railway Gazette International on October 16 that its own contract had been renegotiated, rather than cancelled. While it will no longer export rolling stock components for assembly by Tulpar-Talgo, its agreement to maintain the vehicles already delivered to KTZ has been extended by nine years to 2036, providing a stable long-term revenue flow. Talgo SA’s order book will increase by €177m, although the change would be neutral in terms of net present value.
KTZ is negotiating with other potential investors for the production of coaches at the Tulpar-Talgo plant. Local reports said Stadler’s Belarus arm, Transmashholding’s Tver plant and a Chinese firm could be interested.
An agreement for Transmashholding to acquire a 99% stake in Tulpar-Talgo from KTZ had been signed at InnoTrans on September 20 2018, but the planned transaction did not take place.
- The first of 63 couchette cars which Tulpar-Talgo is assembling using kits supplied by Transmashholding’s Tver coach factory was unveiled at Nur-Sultan 1 station on October 22. The Type 61-4447 vehicles have 54 berths, air-conditioning, USB and 220V power sockets, CCTV, controlled emission toilets and a refrigerator, microwave oven and water dispenser. They have been designed for a life of 40 years.