Vande Bharat sleeper train plans hit a roadblock as RVNL wants higher stake
The plan of launching Vande Bharat sleeper coaches has hit a roadblock as the Russian and Indian consortium partners that won the Rs 40,000-crore supply and maintenance contract are caught in an ownership dispute, The Economic Times (ET) reports.
A senior official of Russia’s locomotive manufacturer, TMH Group, told ET that its partner, Rail Vikas Nigam Ltd is pushing for a higher stake in the joint venture (JV) and to resolve the situation, the group has reached out to senior government officials with their concerns. The official cited by ET said that this is against the “irrevocable and binding agreement” reached by the two parties.
