Alstom increases its share in its Kazakh locomotive joint venture
Published: Fri, 2014-12-12 16:02Alstom recently signed 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 €1.3 billion contract for the maintenance of freight (KZ8A) and passenger (KZ4AT) electric locomotive during 25 years. These agreements were signed by Askar Mamin, KTZ President and Henri Poupart-Lafarge, Alstom Transport President, during the official visit of the French President François Hollande.
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.