Alstom signed, on December 5th, an agreement with the Kazakh national railway company (KTZ) to acquire an additional 25% of KTZ’s stake, thereby bringing its total share to 50%, in the EKZ joint venture (JV). This JV has been awarded a EUR 1.3 billion for the maintenance of freight and passenger electric locomotives during 25 years.
After approval by the relevant authorities, Alstom will become the main shareholder in EKZ, KTZ and TMH both holding 25% of the joint venture based in Astana. With Alstom as major shareholder, EKZ scope will be extended to maintenance activities with the creation of a service centre.
“By increasing Alstom’s share in EKZ, we show our confidence in the attractiveness of Kazakhstan investment environment and we contribute to the development of new expertise and skills locally to address not only Kazakhstan’s needs but also regional ones. This major maintenance contract confirms Alstom’s commitment to the modernisation of the rail industry and to the dynamism of Kazakhstan and central Asia with its rolling stock expertise and maintenance activities” said Martin Vaujour, Managing Director, Alstom Transport Central Asia.
Alstom entered the Kazakhstan’s railway market in June 2010 together with its Russian partner Transmashholding, by laying the first stone of the EKZ facility.
The plant is working on supplying the electric locomotives ordered by KTZ by 2020. Earlier this year, Azerbaijan Railways awarded a contract to EKZ to deliver 50 additional KZ8A locomotives to Azerbaijan.
Photo: http://www.alstom.com
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