KZT, CRRC Corporation Limited to ink cooperation agreement worth $1.3 bln
Head of State Kassym-Jomart Tokayev received Chairman and Executive Director of CRRC Corporation Limited Yongcai Sun on the margins of his visit to China, Kazinform News Agency cites the Akorda press service.
During the meeting, the sides discussed cooperation in machinery manufacturing and railway transport.
Kassym-Jomart Tokayev was told that JSC Kazakhstan Temir Zholy and CRRC were expected to sign the cooperation agreement worth $1.3 billion on the sidelines of the One Belt, One Road Forum. As per the agreement a purchase of 200 shunting and mainline locomotives as well as creation of engineering and service centers in Kazakhstan are planned.
President Tokayev stressed that Kazakhstan is a key transport and logistics hub through which CRRC can get access to the Eurasian and European markets, supporting the company’s plans to invest some $200 million to this end.
The Head of State also welcomed fruitful cooperation between the country and CRRC in the past two decades, adding that Kazakhstan purchased about 300 passenger cars and locomotives as well as 6,000 rail cars. He expressed confidence the sides will be able to propel the bilateral partnership to a new level.
For his part, Yongcai Sun expressed gratitude for the support his company enjoys in Kazakhstan.
CRRC Corporation Limited is one of the key players in the global locomotive manufacturing market.
