ASTANA, Kazakhstan, February 26. Kazakhstan's Samruk-Kazyna JSC (Sovereign Wealth Fund) and Chinese CRRC Corporation Limited (a Chinese state-owned and publicly traded rolling stock manufacturer) have signed a cooperation agreement, Trend reports.
The document was signed by the Chairman of the Board of Samruk-Kazyna Nurlan Zhakupov and the director of CRRC Group Sun Yongcai.
Thus, the agreement is of a strategic nature, aimed at strengthening ties and searching for new investment opportunities.
At the meeting, it was noted that Kazakhstan is also interested in deep localization of locomotive production using advanced technologies and the creation of service centers for equipment maintenance. CRRC, in turn, through Kazakhstan, can gain access to the markets of the Eurasian Economic Union (EAEU) and Europe.
"The volume of cargo transportation by rail between Kazakhstan and China shows positive dynamics every year. In 2023, the volume of cargo transportation amounted to 28.3 million tons, which is 22 percent more than in 2022. CRRC is our long-time reliable partner, and we are interested in developing our cooperation," Zhakupov said.
To note, in October 2023, during the official visit of the President of Kazakhstan, Kassym-Jomart Tokayev to China, Kazakhstan Railways has concluded a framework cooperation agreement with the Chinese corporation CRRC, under which 200 locomotives will be purchased.