Kassym-Jomart Tokayev, the Head of State of Kazakhstan, held a meeting with Sun Yongcai, Chairman of the Board and Executive Director of CRRC Corporation Limited, to discuss potential collaborations in the field of mechanical engineering and railway transport. This meeting took place amidst a backdrop of deepening economic ties between Kazakhstan and the world's largest railway transport manufacturer, CRRC Corporation Limited.
During the meeting, Chairman Sun Yongcai informed President Tokayev about an upcoming agreement, which is set to be signed within the framework of the One Belt, One Road Forum. This forthcoming agreement will solidify cooperation between National Company Kazakhstan Temir Zholy and CRRC, with an impressive financial commitment of $1.3bn. The agreement encompasses the procurement of 200 shunting and mainline diesel locomotives, alongside the establishment of engineering and service centers within Kazakhstan.
President Tokayev, while acknowledging the importance of this agreement, stressed Kazakhstan's strong interest in fostering domestic locomotive production by harnessing cutting-edge technologies and creating service centers dedicated to railway equipment. Furthermore, he emphasized the country's pivotal role as a vital transport and logistics hub, providing CRRC with access to the expansive markets of the Eurasian region and Europe. In line with these aspirations, the Head of State pledged his support for CRRC's planned investment of $200mn for these objectives.
"It is gratifying that for 20 years your corporation has been fruitfully cooperating with our country. Over the years, Kazakhstan purchased from the company about 300 passenger cars and locomotives, as well as 6,000 freight cars. Your products have reliably proven themselves in Kazakhstan. I am confident that we have every opportunity to take our partnership to a new level," the president remarked.
In response, Sun Yongcai, the head of CRRC, expressed his sincere gratitude for the unwavering support that Kazakhstan has extended to his company over the past two decades. He underlined the tremendous progress achieved in mutually beneficial cooperation during this period.
CRRC Corporation Limited, renowned as the world's largest manufacturer of railway transport, holds an impressive share of approximately 50% in the global locomotive production market. The company's commitment to advancing railway technology and infrastructure aligns with Kazakhstan's vision of fostering its domestic mechanical engineering and railway transport sectors.
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