Summary：On February 28 in Chengdu, the signing of Joint Venture Agreement on CSR Chengdu Railway Vehicles Co., Ltd. by CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd., CSR Chengdu Co., Ltd.

On February 28 in Chengdu, the signing of Joint Venture Agreement on CSR Chengdu Railway Vehicles Co., Ltd. by CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd., CSR Chengdu Co., Ltd. and Chengdu Industry Investment Group Co., Ltd. marked the official establishment of CSR Chengdu Railway Vehicles Co., Ltd. 

In the 12 Western China International Fair in October 2011, the People''s Government of Chengdu signed Framework Agreement of Strategic Cooperation with CSR. The Joint Venture Agreement signed on February 28 is the first realized project of the Framework Agreement. It is a substantial step forward that Chengdu railway vehicles change from “made in Qingdao” to “made in Chengdu”, which also means that Sichuan’s strength in high-end equipment manufacturing industry is further enhanced.

With a total investment of RMB980 million, the newly formed CSR Chengdu Railway Vehicles Co., Ltd. will mainly undertake such businesses as general assembly, maintenance and after-sales service of urban mass transit subway vehicles. Phase I Project is located in the Hongliu Depot of Chengdu railway and is planned to construct in the first quarter of this year. And by the fourth quarter, it is planned to form a total assembly of 200. At the beginning of 2013, first “Made in Chengdu” railway vehicle will be made.

According to Zhangjun, vice president of CSR, CSR will make joint efforts with Chengdu to establish “CSR Chengdu Industrial Base” in the future.