On 16 December, China South Locomotive and Rolling Stock Industry Group Corp, the parent of CSR Corp Ltd, signed an agreement with the Ministry of Railways and the Guangdong Province to jointly build a rail vehicle production base in Jiangmen City of the province, sources reported.
Pursuant to the agreement, the three parties will invest a total of RMB 2.98 billion in the rail vehicle base.
The first phase of this base will be able to produce 200 multiple-units trains annually. Upon fully completed, the base will have an annual production capacity of 700 multiple-units trains.
Reportedly, construction on the base has been underway since Sep. 25. The first multiple-units train is expected to roll off production line by the end of next year.
By 2012, China will have a railway network of 110,000 kilometers, of which 13,000 kilometers will be high-speed rail, according to the MOR.
- China Knowledge