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Rail News Home Rail Industry Trends

10/11/2004



Rail News: Rail Industry Trends

Kazakhstan railway orders another 200 locomotive kits from GE


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Last week, Kazakhstan Temir Zholy (KTZ) obtained a $121.7 million long-term loan guarantee from the Export-Import Bank of the United States to purchase 200 locomotive kits from GE Transportation Systems.

The state-owned freight and passenger railway plans to use the kits to refurbish 100 18-year-old locomotives to extend the units' life between 15 and 20 years. The locomotive overhauls are part of KTZ's ongoing modernization program.

ABN Amro Bank N.V. serves as the transaction's guaranteed lender. In December 2003, the Export-Import Bank provided KTZ a $33.1 million loan guarantee to purchase 54 kits from GE.