General Electric announced a US$450 million deal with China's Ministry of Railways to supply 300, 6,000-horsepower locomotives in cooperation with the Qishuyan Locomotive and Rolling Stock Works. Delivery starts in 2007 and will run to 2009, and is part of a plan to replace China's 6,500 locomotives over 15 years, AFP reported. Chinese railway officials said this week that sections of its railway system would be publicly listed to help fund the US$62 million upgrade.
Categories