Economy

China South Locomotive agrees 4b contract in Malaysia

(Xinhua)
Updated: 2010-07-24 19:19

BEIJING - China South Locomotive and Rolling Stock Corp. (CSR) Saturday announced one its subsidiaries had secured a 4-billion-yuan (591.9 million U.S. dollars) contract to supply rail vehicles in Malaysia.

The contract agreed by CSR Zhuzhou Electric Locomotive Co. and the Transport Ministry of Malaysia requires the vehicles to be delivered by May 2012, said Dai Binggang, senior manager of the company.

The vehicles, with a top operational speed at 140 km per hour, would replace existing inter-urban vehicles on the south-to-north rail in Kuala Lumpur, and reduce operating costs by 15 percent a year, said Xu Zongxiang, general manager of the company.

Both Dai and Xu refused to give the number of vehicles to be supplied.

CSR is China's biggest maker of rail vehicles, and its first-quarter net profit surged 84.55 percent year on year to hit 355 million yuan.