Jul 18, 2013

China, Myanmar sign business contract on building locomotive, coach plants

China National Machinery Import and Export Corporation (CMC) and Myanmar Ministry of Rail Transportation on Wednesday signed a business contract in Nay Pyi Taw on building a plant each for producing locomotive engines and coaches.

The project will be implemented at buyers' credit loan preferentially extended by the Chinese government.

CMC President Wang Xusheng and Managing Director of the Myanma Railways U Thurein Win signed the contract on behalf of respective sides in the presence of Chinese Ambassador Yang Houlan and Myanmar Minister of Rail Transportation U Zeya Aung.

According to Wang, on completion of the project, the plants can produce 20 locomotives and 120 passenger coaches annually.

Source: Xinhua