China CNR signs key subway contract with US
(MENAFN) China CNR Corporation Limited, a leading manufacturer of locomotives in the Chinese mainland, announced signing a subway contract with the US, Xinhua reported.
China CNR will sell 284 subway trains worth USD670 million to the transportation regulator in Massachusetts, to prepare Boston's Red and Orange subway lines, the announcement said.
The deal marks the first Chinese foray into the US rail transit market. The subway trains are designed to run 102 kilometers per hour and up to 129,000 kilometers a year for 30 years.
The Chinese firm is also looking to expand into markets in New York, Washington DC and other American cities. It will set up a R&D base in the country to promote localized production.
China CNR will sell 284 subway trains worth USD670 million to the transportation regulator in Massachusetts, to prepare Boston's Red and Orange subway lines, the announcement said.
The deal marks the first Chinese foray into the US rail transit market. The subway trains are designed to run 102 kilometers per hour and up to 129,000 kilometers a year for 30 years.
The Chinese firm is also looking to expand into markets in New York, Washington DC and other American cities. It will set up a R&D base in the country to promote localized production.
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