New York, The Gulf Observer: JSC NC Kazakhstan Temir Zholy signed a framework agreement with Wabtec and a mandate agreement with Citibank, as part of President Kassym-Jomart Tokayev’s official visit to the U.S., according to reports of Kazinform.
As the company informed on its website, Wabtec plans to launch assembly of hydrogen-powered locomotives and their components at a Kazakh plant. Wabtec also plans to set up an engineering centre and provide assistance in transfer of technologies.
The deal is made with the assistance of the Citibank and US Exim Bank at reduced interest rate.
KTZ and Wabtec have been cooperating since 2009. The production of modern locomotives has been localized in Kazakhstan. As many as 1,000 jobs have been created.
Wabtec is the world’s technological leader and supplier of equipment, services and digital solutions for railroad and other sectors. The company employs over 27,000 people in more than 50 countries.