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Chinese locomotive company makes India foray
23 August 2010: China's Zhuzhou Electric Locomotive Company (ZELC), one of the country's biggest locomotive makers, has earned over $700 million (approx Rs 3,220 crore) contracts with India, Malaysia, Singapore and Saudi Arabia. In June 2010, it signed a contract to supply subway trains to India.
ZELC, a subsidiary of China South Locomotive & Rolling (CSR), also signed a $590-million contract with Malaysia to supply inter-city trains, which will run on the north-south line of Kuala Lumpur, the city's busiest shuttle line.
In addition, 114 subway maintenance vehicles were sold to Singapore in June 2009, while Saudi Arabia had placed an order to purchase locomotives in July. These successes helped it earn $760 million (approx Rs 3,496 crore) in overseas trade and establish as a global brand.
Source: Thaindian