CSR Wins 2.54B Yuan Locomotive Orders from Turkmenistan
Tuesday 9 August 2011
CSR Corporation filed it won a 2.54 billion-yuan contract to deliver 75 locomotives to Turkmenistan, the largest single train order in China’s history, reports the China Securities Journal. Prepayment of the orders has arrived, and the first locomotive will be delivered in 21 months. Turkmenistan has ordered a total of 179 trains from CSR.
In the first half, CSR received orders to deliver 20 trains to Georgia, 111 diesel locomotives to Australia and Turkmenistan, 521 cargo trains to African nations and Mongolia, as well as orders for electrical components and other accessories. Train orders accounted for 82% of total orders. CSR earned 2.46 billion yuan in revenue from overseas sales in the first half, up 138.18 percent year-on-year. It had on-hand overseas orders of 12 billion yuan through the end of June.
At the beginning of the year, Australia recently ordered six CSR trains and ordered four more in March. The first order will be delivered by the end of December this year.
CSR Corporation Limited is co-founded by China South Locomotive and Rolling Stock Industry Group Corporation and Beijing Railway Industry Economic and Trade Company with a total equity capital of 7 billion. The company was established on December 28, 2007 with 16 wholly funded and holding companies and over 80,000 employees distributed in 10 provinces and cities around the country.
CSR’s main business range covers research and development, manufacturing, sales, refurbishment, leasing and relevant technical service, information consulting, industrial investment and management, export and import and other business in the concern of locomotives, passenger carriages, freight wagons, MUs, rapid transit vehicles and key related components as well as other businesses that utilize proprietary rolling stock technologies. According to the International Standard Industry Classification, it falls into the category of transportation equipment manufacturing industry of the machinery manufacturing industry.