During the meeting, the sides discussed cooperation in machinery manufacturing and railway transport.
Kassym-Jomart Tokayev was told that JSC Kazakhstan Temir Zholy and CRRC were expected to sign the cooperation agreement worth $1.3 billion on the sidelines of the BRI Forum. As per the agreement a purchase of 200 shunting and mainline locomotives as well as creation of engineering and service centers in Kazakhstan are planned.
The President noted that our country is interested in localization of locomotive production with application of advanced technologies and creation of service centers for maintenance of railway equipment. He also stressed that Kazakhstan is a key transport and logistics hub through which CRRC can get access to the Eurasian and European markets, supporting the company’s plans to invest some $200 million to this end.
"It is delightful that for 20 years your corporation has been fruitfully cooperating with our country. Over the years, Kazakhstan purchased from the company about 300 passenger cars and locomotives, as well as 6 000 freight cars. Your products have reliably proved themselves in Kazakhstan. I am confident that we have every opportunity to take our partnership to a new level," Kasym-Jomart Tokayev said.
For his part, Yongcai Sun expressed gratitude for the support his company enjoys in Kazakhstan.
In his opinion, over 20 years of operation in Kazakhstan the company has achieved very good indicators of mutually beneficial cooperation.
CRRC Corporation Limited is one of the key players in the world's railway transportation industry, with 50% stake in the global locomotive production market.