Investment spurs Kazakh rolling stock industry
KAZAKHSTAN: Freight operator Kaztemirtrans has taken delivery of the first 119 of 615 open wagons funded by ATF Bank and manufactured by Kazakhstan Rail Car Building Co with 40% domestic content.
State Development Bank of Kazakhstan is providing Kazakhstan Rail Car with US$56m to fund production facilities including robots and increased automation as part of a government strategy to reduce the rail sector's dependence on imports from Russia and Ukraine.
Kazakhstan Rail Car was founded in 2008. Annual capacity at its Ekibastuz plant is expected to reach 2 500 open wagons, with the number of employees increasing from 170 to 550.
- EBRD is providing Kaztemirtrans with a loan to support the acquisition of 38 tank wagons for petroleum products.