Transnet in pact with China’s CSR

Transnet in pact with China’s CSR :STATE-owned freight and logistics company Transnet has signed a memorandum of understanding with China’s CSR Zhuzhou Electric Locomotive to set up manufacturing facilities in SA.

President Jacob Zuma is on an official state visit to China to facilitate trade with SA. CSR was one of four manufacturers awarded a R50bn contract to build 1,064 locomotives earlier this year.

Transnet said in a statement on Thursday that all the locomotives bar 70 would be built at Transnet Engineering’s plants in Koedoespoort, Pretoria and Durban.

The memorandum was signed in Beijing by Transnet Group CE Brian Molefe and CSR chairman Zhou Qinghe, and was witnessed by Mr Zuma and his counterpart, President Xi Jinping.

Transnet said it “paves the way” for setting up manufacturing facilities to exploit opportunities for the production and maintenance of electric locomotives, rail equipment and components for African markets.

China and SA also sealed three nuclear pacts on Thursday, including a nuclear project-financing framework between China’s Nuclear Power Technology Corporation, the Industrial & Commercial Bank of China and Standard Bank Group. Two Chinese universities agreed to provide SA with nuclear training.

Transnet in pact with China’s CSR

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