The MoU also covers the rehabilitation of existing Nigerian Railway Corporation (NRC) rolling stock-fleet and upgrading of workshops across the country.
Mr Israel Ibeleme, the media aid to the Minister disclosed this in a statement on Thursday in Abuja.
The two Russian firms are Joint Stock Company Russian Railway (JSCRR) and Transmash Holding, a private rolling stock manufacturing company.
The agreement was signed with CEO-Chairman, Joint Stock Company Russian Railway, Mr Oleg Belozerov and the Chief Executive Officer, Transmash holding, Mr Kirill Lipa during the Russia-Africa Summit in Sochi.
Signing the MoU, Amaechi said it would boost and Fastrack the construction of the rail manufacturing company in Nigeria.
The News Agency of Nigeria (NAN) recalls that the Nigerian government gave the Chinese Civil Engineering Construction Company (CCECC) the nod to establish a rail manufacturing plant in the country.
The Minister reiterated that the present administration led by President Muhammadu Buhari was determined to ensure the development of a standard rail infrastructure in line with best practices.
Amaechi also noted that before the end of December, Nigeria would receive 20 locomotives and wagons which would be used for the railway service on Lagos-Ibadan, Abuja-Kaduna and Itakpe-Warri rail line.
