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U.S. Company Takes Over Kazakh Locomotive Plant

19 Feb 2024

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

Askar Alimzhanov graduated from the journalism department of the Kazakh State University named after S. Kirov, then worked as a correspondent for the daily republican newspaper Leninskaya Smen. He then moved to the United States to be a reporter for the daily newspaper "Cape Cod Times" in Hayanis, Massachusetts, (USA) under the journalist exchange program between the Union of Journalists of the USSR and the New England Society of News Editors. Since then, he has helped build transparency and understanding of Central Asia region in various executive level positions at esteemed media organizations including "Akbar"(Alma-Ata) international center for journalism, the Khabar News agency, the Television and Radio Corporation "Kazakhstan" JSC, and MIR- Kazakhstan.

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