GE Transportation acquires 50% stake in Kazakh loco manufacturer
KAZAKHSTAN: GE Transportation announced on April 12 that it had completed the purchase of a 50% stake in locomotive manufacturer Lokomotiv Kurastyru Zauyty from national railway KTZ.
Formed in 2009 as a 50:50 joint venture between KTZ and Russian rolling stock manufacturing group Transmashholding, LKZ produces GE Evolution Series freight and passenger locomotives for Kazakhstan and customers in the 1 520 mm gauge region. TE33A locomotives assembled at the plant have been supplied to customers in Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Ukraine.
‘We have been working with GE Transportation for more than 10 years and, during this time, produced over 300 Evolution Series locomotives,’ said KTZ President Kanat Alpysbayev. ‘We look forward to furthering GE Transportation’s presence in the region.’
‘Kazakhstan has a strategic plan for its railroad to support economic growth and increased regional trade, and today’s announcement underscores GE’s commitment to working with KTZ to ensure that Kazakhstan’s rail infrastructure remains modern and reliable’, said GE Transportation President & CEO Jamie Miller. ‘We are excited to become a shareholder of LKZ and look forward to driving continued infrastructure improvements across the country, and bringing the most advanced locomotive technology to the CIS region.’