U.S. Company Takes Over Kazakh Locomotive Plant

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The American company Wabtec has exercised its right to purchase the 50% stake in JSC “Locomotive Kurastyru Zauyty” that it didn’t already own for $81m. In doing so Wabtec has become the full owner of the enterprise.

Separately, Kazakhstan’s national railway company, Kazakhstan Temir Zholy, plans to upgrade 15% of its locomotive fleet by borrowing $900m from U.S. lender Citibank to buy 240 Wabtec locomotives.

Ahead of the deal, Wabtec’s CEO Rafael Santana traveled to Kazakhstan to meet with the country’s president, Kassym-Jomart Tokayev. The meeting discussed important issues concerning the prospects of cooperation between Kazakhstan and the American company, as well as the process of further refurbishments and improvements to Kazakhstan’s railroad industry.

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Times of Central Asia