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Alstom becomes majority shareholder in its Kazakh locomotive joint venture

On December 20, Paris, within the framework of the privatization program on December 20 in Paris between the concern Alstom and JSC Remlokomotiv (100% subsidiary organization of JSC NC KTZ) signed an agreement to acquire their 25% stake in the EKZ Joint Venture (JV). After approval by the relevant authorities, Alstom will see its total share brought to 75%.

The agreement was signed by Maksat Kabashev, KTZ Strategy Vice-President and Didier Pfleger, Alstom Senior Vice-President for Middle-East and Africa.

"The implementation of the Company's share in EKZ is aimed at optimizing the structure of assets of Kazakhstan Railways, further modernization of the railway industry, the implementation of a dynamic transformation policy, " Maksat Kabashev said and noted that " currently the plant meets the needs of the railway in new cargo locomotives of KZ8A series. In 2018 it is planned to begin a complete assembly of passenger locomotives of the KZ4AT series."

“By increasing once again Alstom’s share in EKZ, we show our confidence in the attractiveness of Kazakhstan and we contribute to the development of new expertise and skills locally to address not only Kazakhstan’s needs but also regional ones“, said Didier Pfleger.

The joint company was held by Alstom (25%), TMH (25%) and Kazakh Railways (50%). Alstom, EKZ, TMH and KTZ had signed a contract for the supply of 200 Prima T8 (KZ8A) and 95 Prima M4 (KZ4A) locomotives. The plant was inaugurated in 2012.

 

Press-office of JSC NC KTZ

 

 






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«NC «KTZ» transformation
«NC «KTZ» privatization
«NC «KTZ» privatization
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