At the St. Petersburg International Economic Forum, LocoTech Group of Companies and the Government of the Republic of Buryatia signed a cooperation agreement. The document has been signed by the Head and the Chairman of the Government of the Republic of Buryatia Aleksey Tsydenov, and the Director General of LocoTech Yuri Degtyarev.

The agreement was signed for a period of 1 year and provides for the cooperation of the administration of the Republic and LocoTech aimed at the stable socio-economic development of the Republic of Buryatia. The purpose of the signing of the agreement is to increase the investment attractiveness and improve the investment climate, the socio-economic development of the Republic of Buryatia, promote business, manufacturing and services. 

In addition, the parties agreed to cooperate in ensuring stable operations and attracting investment in the Ulan-Ude Locomotive and Car Repair Plant and to promote the development of the resource, material, technical and financial base in the region.

The Head and Chairman of the Government of the Republic of Buryatia Aleksey Tsydenov stressed that the Ulan-Ude LVRZ is an example of a socially responsible enterprise and makes a significant contribution to the expansion of the region’s investment attractiveness. 

Director General of LocoTech Yuri Degtyarev noted: “Signing of a cooperation agreement between the LocoTech Group of Companies and the Government of the Republic of Buryatia is an important milestone in the development of bilateral relations. The plant is key to the development of the region. The company is the largest taxpayer and has a strong social base”.

The Ulan-Ude locomotive and car repair plant is a leader among the LocoTech locomotive repair plants. This is one of the largest industrial enterprises of the Republic of Buryatia. It carries out medium and capital repairs of locomotives, warranty service and upgrading of locomotives with extension of service life, repair of components and assemblies, production of spare parts, development of new repair technologies.

The company carries out repair of railway rolling stock and the production of spare parts. The plant’s service reach is from the Northern to the Far Eastern Railways. Manufactured parts are also supplied to the CIS countries and Mongolia. 

In 2017, the plant released after the repair a record 871 sections of locomotives. And in 2018, it plans to put a new historical maximum - to repair 900 sections.

In 2017, Ulan-Ude LVRZ paid taxes to the budget of the Russian Federation in the amount of 445.9 million rubles (443.9 million rubles to the budget of the Republic of Buryatia). In 2018, it is planned to pay 501.2 million rubles.

Ulan-Ude LVRZ is among the largest employers in the region - about 6 thousand people work at the plant. The average salary at the enterprise in 2017 amounted to 39.4 thousand rubles (+ 15.6% compared to 2016).