China’s two biggest train makers, CSR (1766.HKG) and China CNR (601299.SHA), have won bids for 258 bullet trains, which could be worth as much as US$7.3 billion (RMB44.3 billion), Bloomberg reported, citing an emailed statement by CSR on Thursday. The purchase is the second large order placed this year by China Railway (390.HKG, 601390.SHA), operator of China’s train network. CSR estimated it won bids of around US$4.2 billion (RMB25.9 billion) to make 83 bullet trains and CNR may receive an order worth US$3 billion (RMB18.4 billion) as China’s high-speed rail network opens new lines.
Categories