Tashkent, Uzbekistan (UzDaily.com) — Deputy Minister of Transport Jasurbek Choriev met with a delegation led by Kwak Chol Hoon, head of the Global Rail Group at Hyundai Rotem.

During the meeting, the parties exchanged views on localizing the production of modern electric trains.

A proposal was presented for the production of electric trains used by the South Korean company KORAIL at the Tashkent Passenger Car Repair Plant.

Key technical specifications for the electric trains planned for production within the framework of this localization project were presented.

As a result of the meeting, the participants agreed to explore additional opportunities for project implementation, conduct a detailed analysis of the proposals, and consider the use of new production capacities.

President of Uzbekistan Shavkat Mirziyoyev signed a resolution on "Measures to Implement the Project ‘Procurement of 6 High-Speed Electric Trains’ with the Participation of the Export-Import Bank of Korea."

The total cost of the project is €220.03 million. Under the agreement, Uzbekistan will allocate €21.3 million, Uzbekistan Railways (AO “O’zbekiston Temir Yo’llari”) will contribute €13.5 million, and the Export-Import Bank of Korea will provide a loan in Korean won equivalent to €185.18 million, for a term of 40 years, including a 10-year grace period, at an interest rate of 0.05% per annum.

The project implementation period will be six years (from 2024 to 2030). The new trains are expected to carry 1.31 million passengers annually. The payback period for the project is estimated at 25.1 years.

The contract for the supply and technical maintenance of electric trains was signed between Uzbekistan Railways, the Railway Express Company (AO “Temiryo’lakspress”), and the South Korean company Hyundai Rotem during the visit of the President of the Republic of Korea to Uzbekistan in June 2024.

Under the terms of the contract worth US$195.7 million, Hyundai Rotem will supply six high-speed electric trains consisting of 42 cars to Uzbekistan.

These electric trains will be named "Jaloliddin Manguberdi" and will operate on the route Tashkent – Urgench – Khiva.

The South Korean company will also provide maintenance and repair services for these trains.