Buffett Foundation to provide Ukrzaliznytsia's Repair & Production division with technical assistance worth $9.2 mln

For the first time, the Repair and Production division of JSC Ukrzaliznytsia signed contracts with the Howard G. Buffett International Foundation (HGBF) worth $9.2 million. These contracts provide for the direct supply of modern equipment to three enterprises for the purpose of modernizing their production capacities, the report said on Wednesday.

Within the framework of the contracts, it is planned to receive more than 20 units of high-precision, innovative industrial equipment, including lathes, milling machines, 3D printers, 3D scanners, and thermal installations.

As Ukrzaliznytsia told Interfax-Ukraine, the Foundation does not transfer money, but rather purchases the equipment independently for subsequent transfer to enterprises.

The company added that the necessary equipment has not been imported to Ukraine for over five years and is not produced locally. This includes parts for diesel engines and engine block wheels (gears, etc.).

"Over 60% of Ukrzaliznytsia's locomotive fleet needs major repairs or restoration. At the same time, some of the necessary equipment is in the occupied territories, and some components have become scarce because previously critical spare parts were purchased in Russia and Belarus," the release quotes Yevhen Shramko, a Ukrzaliznytsia board member responsible for repair and production.