TMH's key customers confirming investment plans for 2025, talks for 2026 ahead - CEO
YEKATERINBURG. July 8 (Interfax) - Transmashholding's (TMH) key customers are confirming their investment programs for 2025 and discussions for 2026 lie ahead, the leading Russian railway equipment maker's CEO, Kirill Lipa told Interfax on the sidelines of the Innoprom exhibition.
"Like the investment program of all our key customers, which are Moscow and RZD [Russian Railways], was confirmed at the beginning of the year, so it is continuing in the same vein. So there are no restrictions," Lipa said, speaking about capacity utilization at the company's plants this year.
As for the workload for 2026, he said volumes are not clear yet. "[U]nfortunately, this is the biggest question right now, the conditions of financing next year, and the actual scale of the investment program will depend on this," Lipa said.
He did not rule out that additional government funding might also be needed next year. "Restrictions do not apply to TMH, meaning it's difficult for me to comment on this. It will depend on the financial condition of our customers. In other words, if their capabilities will enable them to acquire rolling stock without the relevant government subsidies, they will do it that way, if not then in another way," Lipa said.
This issue is not being discussed with the Industry and Trade Ministry at the moment, he said.
"I think that everything will begin sometime closer to the fall, in September [when budget discussions begin]. When they start drafting next year's budgets, if they start, then naturally [they will] assess their financial capabilities," Lipa said.
The government earlier injected 15 billion rubles into RZD to finance the purchase of locomotives and other rolling stock. Lipa said earlier that the agreed amount of subsidies for purchasing equipment from TMH totals 10 billion rubles.
RZD's investment program for 2025 was approved at the end of last December in the amount of 890.9 billion rubles, down almost 30% from 1.275 trillion rubles for 2024.
