Kazakhstan to purchase 300 freight locomotives from US-based Wabtec for $4.2 bln (Part 2)Kazakhstan and U.S.-based Wabtec have signed a set of agreements for the supply of freight locomotives totaling $4.2 billion, the press service of the head of state reported.The documents were signed during the working visit of the President of Kazakhstan to New York in the presence of U.S. Secretary of Commerce Howard Lutnick."The documents provide for the supply of freight locomotives with improved characteristics to our country and their maintenance," the press release stated.Earlier on Monday, the U.S. Secretary of Commerce noted on social media platform X that these locomotives will ensure transportation connectivity between Europe and Asia as part of the development of the Middle Corridor.He also emphasized that this deal with Kazakhstan provides "strong support" to the U.S. railway industry at a time when it is "facing unfair attacks" amid a "misguided push" for exclusively electric transportation.The press service of the President of Kazakhstan reminded that the Wabtec Kazakhstan locomotive assembly plant has been operating in Astana since 2009. During this period, the company has invested over $230 million. Since its launch, the plant has produced more than 600 locomotives for Kazakhstan Temir Zholy (Kazakhstan Railways) and for export. The localization level of production has reached 45%.In July 2024, Wabtec opened a technology and engineering center in Kazakhstan, which has become a platform for implementing innovations and training personnel.Wabtec is developing the localization of locomotive production in the country based on the “Lokomotiv Kurastiru Zauyty” (Locomotive Assembly Plant). At the end of the Q4 2023, the corporation acquired a 50% stake in JSC "Lokomotiv Kurastiru Zauyty" for $81 million, becoming the sole owner of the plant. Previously, LKZ was owned on a parity basis by Wabtec and Transmashholding.Wabtec Corporation is one of the world leaders in locomotive manufacturing, a supplier of propulsion systems, components, and digital solutions for the railway industry. The company's plant in Pennsylvania specializes in the production and overhaul of diesel engines for locomotives and heavy equipment. (ICE ALMATY)

Fonte notizia: INTERFAX