Exim Bank Approved KTZ Locomotive Purchasing Loan

29 November 2012 Thursday, 12:27

Kazakhstan’s national railway operator, Kazakhstan Temir Zholy (KTZ), has secured a loan of $425m from the Export-Import Bank of the United States (Ex-Im Bank) to finance the purchase of locomotives from General Electric (GE).

KTZ will use the proceeds to purchase 200 GE Evolution series locomotives and locomotive kits designed for operation in Kazakhstan and surrounding countries in the Commonwealth of Independent States (CIS).
The locomotive kits will be manufactured at GE’s facilities in Grove City and Erie, Pennysylvania, US, and later assembled into locomotives by KTZ subsidiary Lokomotiv Kurastyru Zauyty (LKZ) at its plant in Kazakhstan’s capital Astana.
KTZ signed an agreement with GE Transportation in September 2012 to supply the passenger version of its Evolution series locomotives.
The initial contract was for 110 locomotives, in line with a 2006 agreement to supply kits for the manufacture of 310 units by 2016.
GE’s Evolution passenger locomotives are technologically advanced diesel electric, heavy-haul models, which are modified for higher speed service.
Kazakhstan’s national railway operator, Kazakhstan Temir Zholy (KTZ), has secured a loan of $425m from the Export-Import Bank of the United States (Ex-Im Bank) to finance the purchase of locomotives from General Electric (GE).
KTZ will use the proceeds to purchase 200 GE Evolution series locomotives and locomotive kits designed for operation in Kazakhstan and surrounding countries in the Commonwealth of Independent States (CIS).
The locomotive kits will be manufactured at GE’s facilities in Grove City and Erie, Pennysylvania, US, and later assembled into locomotives by KTZ subsidiary Lokomotiv Kurastyru Zauyty (LKZ) at its plant in Kazakhstan’s capital Astana.
KTZ signed an agreement with GE Transportation in September 2012 to supply the passenger version of its Evolution series locomotives.
The initial contract was for 110 locomotives, in line with a 2006 agreement to supply kits for the manufacture of 310 units by 2016.
GE’s Evolution passenger locomotives are technologically advanced diesel electric, heavy-haul models, which are modified for higher speed service.

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