Alstom: strengthens presence in Kazakhstan joint venture
(CercleFinance.com) - Alstom has announced that it has signed an agreement with Kazakhstan's national railway company KTZ to acquire a 25% stake in EKZ, a joint venture in locomotives.
Once this acquisition is approved by the authorities, the French group will hold 75% of EKZ's shares.
This acquisition confirms the French transport equipment supplier's commitment to the modernisation of Kazakhstan's rail network and follows the MoU signed last week in the capital Astana.
The EKZ locomotive plant was inaugurated in 2012. Freight locomotives are now fully assembled at EKZ and the complete assembly of passenger locomotives will begin in early 2018.
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