Beijing – China’s largest train manufacturer, CSR Corp. Ltd, announced that its subsidiary company will be supplying South African logistics firm Transnet with electric locomotives for freight haulage purposes. The contract which was secured on Monday is worth $400 million.
The contract which was won by CSR Zhuzhou Electric Locomotive Co., Ltd. have made their mark in the ever growing rail industry in Africa, which is one of the fastest growing rail markets in the world. The electric locomotives supplied by CSR can haul freight at a maximum speed of 100kmph.According to the contract, the Chinese company will provide the technology concerning electric locomotive manufacturing to South Africa and more than 60 percent of the parts and components will be manufactured in South Africa.
The first locomotive is expected to be delivered by the end of 2013.