皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

皇冠体育app sells 20 domestically made locomotives to New Zealand

(Xinhua)
Updated: 2009-09-12 10:37

皇冠体育app CNR Corporation Limited, one of the country's top two train makers, agreed Friday to export 20 diesel locomotives to New Zealand.

This will be the first time that 皇冠体育app-made locomotives will be exported in batches to a developed country.

The contract was signed Friday between LORIC Import & Export Corp Ltd, CNR's foreign trade arm, and New Zealand's KiwiRail, a state-operated railway company.

Related readings:  CRH locomotive overhaul base launched in Binhai  皇冠体育app CNR gets greenlight for its IPO  Regulator to scan CNR float chart  CNR on right lines for world rail leadership

The first six locomotives will be delivered on May 19, 2010, and the remaining 14 locomotives on August 19, 2010.

KiwiRail manages more than 90 percent of the railway operation in New Zealand, which currently has 4,700-km track lines. New Zealand has been a traditional market for US locomotives for years.

CNR president Cui Dianguo said the project would help the company to develop new markets among developed countries, as this project demonstrated the firm's "ability to provide locomotives with up-to-date technology for developed countries".

CNR is reorganized from 皇冠体育app northern Locomotive and rolling Stock Industry (Group) in June, 2008.

New Zealand is the first developed country to recognize 皇冠体育app's market economy status, and also the first developed country to negotiate a free trade agreement with 皇冠体育app.