Alstom signs $129M, 25-year locomotive repair contract with KTZ
October 03. Universal Newswires
French conglomerate Alstom has signed a $129 million (€100 million) deal with a subsidiary of state railways firm Kazakhstan Temir Zholy (KTZ) to maintain and modernize 27 passenger locomotives, the French firm said in a statement on Wednesday.
The deal is the first of its kind in Kazakhstan for Alstom, which signed the deal with KTZ branch AO Locomotive.
Most of the locomotives, now three years old, run between the Kazakh capital Astana and the country’s business capital in the south, Almaty.
“With this long-term project, Alstom becomes a major player for rolling stock maintenance in Kazakhstan,” Alstom Transport’s Senior Vice President for Russia and the CIS [Commonwealth of Independent States] Bernard Gonnet said in the statement.
The firm, which will work out of an Astana base, foresees the creation of a satellite station in the south of the large country.
Though this is the first maintenance contract to be awarded to the firm by Kazakhstan, Alstom signed a contract with KTZ in 2010 to provide 200 double-freight and 95 passenger locomotives.