GE buys half of Kazakhstan locomotive maker

RELATED TOPICS: INTERNATIONAL | SUPPLIERS | LOCOMOTIVES
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CHICAGO — GE Transportation announced today it has completed the purchase of a 50-percent interest in locomotive manufacturer Lokomotiv Kurastyru Zauyty from Kazakhstan’s national railway company, KTZ.

“We have been working with GE Transportation for more than 10 years and, during this time, produced over 300 Evolution Series locomotives,” says Kanat Alpysbayev, railroad president. “These locomotives, which are built locally, are used on Kazakhstan’s railways and operated throughout the region. We look forward to furthering GE Transportation’s presence in the region.”

“Kazakhstan has a strategic plan for its railroad to support economic growth and increased regional trade, and today’s announcement underscores GE’s commitment to working with [the railroad] to ensure that Kazakhstan’s rail infrastructure remains modern and reliable,” says GE Transportation President and CEO Jamie Miller. “We are excited to become a shareholder of LKZ and look forward to driving continued infrastructure improvements across the country, and bringing the most advanced locomotive technology to the [Commonwealth of Independent States] region.”

Lokomotiv Kurastyru Zauyty was formed in 2009. It was a 50-50 joint venture between the Kazak national railroad and Russia’s largest rail equipment producer, Transmashholding. The locomotive maker manufactures GE Evolution Series locomotives for freight and passenger transportation in Kazakhstan and the broader commonwealth region in central Asia.

Today’s announcement demonstrates GE’s long-term commitment to support the region’s sustainable development by bringing global expertise, localized advanced technologies, and investments in manufacturing.

— A GE news release. April 12, 2017.

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