Kazakhstan Chamber of Commerce in the USA

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ALSTOM has agreed to purchase an additional 25% stake in locomotive joint venture EKZ

Posted on January 28, 2015 by KazCham

Business Intelligence from Colibri Law Firm: Issue #100

ALSTOM has agreed to purchase an additional 25% stake in its Kazakhstan locomotive joint venture EKZ from Kazakhstan Railways (KTZ) increasing its holding to 50%, which will expand the company’s scope to include maintenance activities through a dedicated facility in Astana.

EKZ’s plant in Kazakhstan is already assembling locomotives for the CIS market, with plans to shift complete production to Astana from Alstom’s Belfort facility next year as the company continues to work on a $US 1.3bn contract for 295 locomotives awarded in 2010 which is due to be completed by 2020. Indeed 24 KZ8A electric locomotives are already in operation in Kazakhstan. Azerbaijan also awarded EKZ a contract worth €300m for 50 KZ8A locomotives in May.

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