China Business

Jan 26, 2006

China to manufacture high-speed trains

BEIJING - China's main railway locomotive supplier, China South Locomotive & Rolling Stock Industry (Group) Corporation (CSR) will secure 15 billion yuan (US$1.86 billion) of loans in the coming three years from the State Development Bank (SDB) to develop and manufacture high-speed trains with a speed of 200-300 kilometers an hour, according to an agreement on financial cooperation signed by CSR and SDB here on January 23.

CSR has won an order for 60 high-speed trains, half of the first batch of orders, and delivered it to its subsidiary, Sifang Locomotive and Rolling Stock Co Ltd for manufacture, revealed

Zhang Xinning, spokesman of CSR. China's high-speed train will be labeled with the home brand, but CSR will introduce technology from Japan's Kawasaki in the manufacturing process.

As the main supplier of heavy-duty locomotives, high-grade passenger trains, high-speed locomotives, and rail and subway vehicles for China's railways, CSR raked in 78 billion yuan in sales revenue in 2005.

(Asia Pulse/XIC)

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