Unlocking the Future: How This Company Plans to Secure Rs 500 Crore from PNB to Expand Vande Bharat Train Production

The Vande Bharat Express trains have changed the way people travel in India since their launch in February 2019. They offer exceptional comfort and safety while linking major cities across the country. Currently, over 50 of these trains are in operation, with plans to expand that number to 400 by March 2027 under Prime Minister Narendra Modi’s initiative.

Recently, the Indian government has given Kinet Railway Solutions a big task: to build 120 new Vande Bharat sleeper trains. This company is a joint venture between Indian and Russian firms. They plan to start production at their facility in Latur, Maharashtra, and are looking for a ₹500 crore loan from Punjab National Bank (PNB) to help fund the project. This financial push is supported by Sberbank Rossii, a state-owned Russian bank, which acts as a financial guarantor.

Kinet Railway Solutions secured the contract to manufacture these trains in 2023. However, delays have occurred due to various challenges, including initial funding shortages. There has also been some back and forth between Indian Railways and Kinet over train specifications, particularly regarding the number of coaches. Eventually, they agreed to the original plan for 16 coaches.

Excitingly, the first prototype of the sleeper train is expected to be ready for testing by June 2026, with commercial operations set to follow shortly after. Kinet has already issued contracts worth ₹450 crore to CG Power for critical systems in the new trains. Interior design tenders will likely go out soon, allowing them to finalize the train’s layout and features.

Kinet Railway Solutions operates under a specific ownership structure: Metrovagonmash from Russia holds a 70% stake, while India’s Rail Vikas Nigam Limited possesses 25%, and Locomotive Electronic Systems owns the remaining 5%.

These developments reflect the growing demand for modern rail transport options in India. According to recent statistics from the Ministry of Railways, passenger rail traffic has surged, with increasing numbers choosing train travel over other means. This indicates strong public support for expanding services like the Vande Bharat trains.

With these new sleeper trains on the horizon, we can expect a transformation in overnight travel for many. This initiative not only aims to enhance comfort but also reflects a strategic partnership between India and Russia in the rail technology sector, possibly strengthening ties for future projects.

For more detailed insights, you can explore this report.

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