Colibri Law Firm BI@colibrilaw.com
Alstom has completed a deal to double its stake in its Kazakhstan joint venture, EKZ. The French company now has a 50% stake in the JV, which was set up to manufacture electric locomotives for Kazakhstan, and will be given an extra seat on the EKZ board of directors.
The Kazakh national rail provider Kazakhstan Temir Zholy and locomotives and rail manufacturer Transmashholding each retain a 25% stake.
Alstom and EKZ have also signed an agreement to produce the locomotives’ on-board transformers at EKZ’s facility in Astana.