Even though China’s high speed railways have encountered some troubles over the past year, one of the country’s CRH high speed train manufacturers, the Qingdao based CSR Sifang, is forging full speed ahead.
CSR Sifang Locomotive is part of the state-owned China South Locomotive and Rolling Stock Corporation (abbreviated as CSR) which makes the CRH high speed trains for inter-city travel in China (Beijing-Tianjin, Shanghai-Hangzhou, Beijing-Qingdao, Shanghai-Nanjing to name a few) as well as the newer subway cars of the Beijing Subway and Guangzhou Metro.
The company recently signed huge contracts worth billions of yuan (RMB) with China’s Ministry of Railways. CSR’s Canadian joint venture partner Bombardier also registered a large maintenance deal with the ministry.
Read more about CSR Sifang and Bombardier from the financial news site CapitalVue:
CSR Corporation (601766,1766.HK), one of China’s top two train manufacturers, recently won several large contracts worth a total of 5.87 billion yuan, reports yicai.com, citing a company filing. Three of the contacts were signed with the Ministry of Railways, of which one contract worth 2.07 billion yuan for the maintenance of EMUs was won by CSR Qingdao Sifang Locomotive and Rolling Stock, a wholly-controlled subsidiary. Bombardier Sifang Qingdao, a joint venture of CSR Corporation, won a 360 million yuan contract from the ministry to also conduct maintenance work for EMUs.