During the official visit of the Head of Kazakhstan State to the United States, a key Mandate Agreement was signed to attract $1.6 billion in financing over 10 years for the upgrade of KTZ’s locomotive fleet, the company said in a statement.
The agreement was concluded between NC Kazakhstan Temir Zholy JSC and Citibank, which is acting as a financing coordinator, with Export-Import Bank of the United States (US EXIM) acting as a guarantor.
The locomotives will be manufactured in Kazakhstan at the Lokomotiv Kurastyru Zauyty JSC plant in Astana, a subsidiary of Wabtec Transportation Engines Holding B.V. Deliveries are planned for a long term, until 2038.
This procurement program is aimed at a comprehensive upgrade of traction rolling stock, which will significantly improve the energy efficiency of transportation and reliably meet the growing needs of freight traffic.
Photo: courtesy of the press Service of JSC NC Kazakhstan Temir Zholy