MOSCOW, April 4. /TASS/. Transmashholding (TMH) will open a subsidiary in India, Chief Executive Officer Kirill Lipa told reporters on Tuesday, adding that the enterprise would sign an agreement with Indian Railways this May.

"This will be a subsidiary, which will sign an agreement with [Indian] Railways <…> in the middle of May," he said.

All trains will be constructed on Indian territory due to the country’s production localization requirements, CEO noted, adding that the plan is to deliver 120 trains to Indian Railways.