Vietnamese Rail Market

Russia’s Transmashholding Eyes Vietnamese Rail Market

Published on April 2, 2026

Transmashholding (TMH), the largest manufacturer of locomotives and rail equipment in Russia, is interested in the Vietnamese market, company CEO Kirill Lipa has said. He was speaking at the International Transport and Logistics Forum being held in St. Petersburg.

Lipa said that TMH is currently monitoring the global situation in response to possibly entering other potential international markets. He first mentioned TMH’s interest in Vietnam a year ago, when the company had no projects in the country, and Vietnam itself had plans to build a second metro line.

Lipa stated, “Overall, Vietnam is a country where we would like to have some presence. We will see what projects we could undertake. In addition to supplying rolling stock, we could also do upgrading, repairs, and supply some equipment for railways, including signaling systems or traffic management. We do not have any business in Vietnam yet, though we are generally trying to do something in the Asian region, in India and China, for example.” 

Headquartered in Moscow, TMH is the largest manufacturer of rolling stock for railway transport in Russia, comprising production and assembly sites both domestically and with operations in 30 other countries.

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