Kazakhstan to buy 117 locomotives from Alstom with preferential financing from Societe Generale

ASTANA. Nov 5 (Interfax) - Kazakhstan's national railways operator Kazakhstan Temir Zholy (KTZ), Electric Locomotive Assembly Plant LLP and France's Alstom have agreed to supply 117 electric freight locomotives and establish service centers by 2028, the KTZ press service reported.

The document was signed in Paris at the Kazakh-French Business Council.

"Powerful electric freight locomotives capable of hauling freight trains of up to 9,000 tonnes will replace the outdated VL-80 locomotives built in 1980. The advantages of these locomotives are lower costs, economical use of electricity, high reliability and reduced maintenance costs," the press release said.

The guarantor of the transaction will be BPI France, the export credit agency of the French Ministry of Finance. The French bank Societe Generale will provide preferential financing at low interest rates for the purchase of the locomotives.