Tashkent passenger carriages plant, a subsidiary of Uzbekistan Railways, has been transferred to trust management. This became known from the minutes of the extraordinary general meeting of shareholders on March 28.

According to the MoM, 90% stake of the plant, previously owned by Uzbekistan Railways, had been transferred to the Agency for State Assets Management, and then to the trust management of Transport Engineering Center under the agreement of January 21, 2025.

The powers of the previous supervisory board were terminated early. The new board includes nine people, including Transport Minister Ilkhom Makhkamov and Uzbekistan Railways Chief Engineer Sharofiddin Kadirov. The remaining seven members represent Transport Engineering Center, five of them are Russian nationals.

Among them are top managers of companies that are part of the Russian holding Transmashholding (TMH), which specializes in the production of rolling stock. For example, Alexander Chebakov is a member of the management team of TMH, Alexander Loshmanov heads TMH - Passenger Transport, Egor Gulyaev heads TMH Investments, and Kirill Lachugin represents the Integrated Carriage-Building Company, which is also part of the holding.

Uzbekistan Railways and former members of the board have been excluded from the list of affiliated persons of the enterprise. New members and Transport Engineering Center have been included as the owner of a share of 20% or more.

About Transport Engineering Center

Transport Engineering Center was registered in Tashkent in January 2024.

Previously, the sole owner of the enterprise was Sergey Leonidovich Karpov, the former director of personnel management and social issues at Metrovagonmash-Service, which services the rolling stock of the Moscow Metro and is part of the Transmashholding structure.

To date, the founders are listed as VTR Holdings Limited (87%) and Vector Technological Solutions (13%), registered in Moscow with an authorized capital of 10 thousand rubles.

Kazakh media reported that this company owned VTR Holdings Limited. The Kamkor Locomotive company, together with these beneficiaries, is also building a locomotive manufacturing plant in the Akmola region of Kazakhstan and is represented by 13 locomotive repair enterprises located throughout the entire railway network of Kazakhstan.