Train maker China CNR receives contracts worth CNY 7.24bn
2012-12-12 11:17:00China CNR Corporation, a train manufacturer, recently won 13 contracts worth a total of around CNY 7.24bn (EUR 903.66mn USD 1.16bn). Five of the contracts were signed with local companies and valued at CNY 1.7bn, while another five contracts worth CNY 5.08bn were signed with the Ministry of Railways. The other three are export contracts, with their combined value reaching CNY 459mn.
CNR Dalian Locomotive & Rolling Stock Company, a wholly-owned subsidiary of China CNR, signed CNY 1.09bn worth of contracts to supply metro vehicles for Dalian Metro Line 1 and Line 2's phase I development. The subsidiary also inked CNY 3.99bn contracts for high-power AC drive electric locomotive supplies with railway administrations under the Ministry of Railways.