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11 August 2020, 17:25

Belarusbank, UBS Switzerland AG to finance purchase of Stadler trains for Belarusian Railways

MINSK, 11 August (BelTA) – Belarusbank and UBS Switzerland AG will allocate €90 million as part of the current Interbank Loan Agreement to finance the purchase of Stadler trains for Belarusian Railways, BelTA learned from the press service of the Belarusian bank.

The first drawdown of €15 million on the loan was made on 11 August. The funds are intended, among other things, to purchase the first batch of rough train bodies to be assembled by Stadler Minsk.

The company has already started producing ten five-car FLIRT trains for Belarusian Railways. The first new electric train will be launched in July 2021 and will be serving the inter-regional rail lines.

The Swiss Bank provides credit resources under the insurance coverage of the Swiss Export Risk Insurance (SERV).

Stadler Minsk is part of the Stadler Rail Group (Switzerland) and a resident company of the Minsk free economic zone. Stadler Minsk is located in the town of Fanipol. It uses the most advanced technologies to manufacture single and double-deck, electric and diesel-electric trains, tramways and metro cars. Stadler Minsk caters to customers in the CIS, Europe and Latin America.

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