NEW DELHI, April 17. /TASS/. Transmashholding (TMH) has won the global bid to produce, supply and maintain 120 16-car long-distance Vande Bharat electric trains for the state enterprise Indian Railways, Chief Executive Officer Kirill Lipa told reporters.

The terms of the tender stipulate that the contract be signed by June 1, 2023. The contract will pay $1.8 bln for supplying the trains and $2.5 bln for their maintenance over a period of 35 years. Taking into account indexation, the total value of the contract could be as much as $6.5 bln.

"The decision has been made, but the document itself has not been signed, <…> [it will be signed - TASS) within 45 days from March 29," Lipa said.

The trains are part of a major program to re-equip the national carrier on long-distance routes. The trains will be able to reach a speed of up to 160 km per hour.

TMH, which participated in the tender in a consortium with the Indian state construction and engineering company RVNL, beat out proposals by such companies as Alstom, Stadler, Siemens and a consortium of local producers led by Titagarh and BHEL, which bid the second-lowest.

Production will be localized at the Indian Railways, Marathwada Rail Coach Factory, in Latur (Maharashtra state). Delivery of the trains is expected to take place sometime between 2026 to 2030, while the first two prototypes will be ready for trials by the end of 2025.