BEIJING, Aug. 20 (Xinhua) — China CRRC Corporation Ltd., the country’s largest high speed train maker, announced Saturday its first joint venture plant in India started operation.
It is the first time for China’s high speed train maker to open a plant in south Asia where one of the world’s most comprehensive rail system spans.
The joint venture, named CRRC Pioneer (India) Electric Co. Ltd., is housed in Bavo Industrial District of Haryana between New Delhi and Bombay.
Total investment is 63.4 million U.S. dollars, and the Chinese side holds 51 percent of the share.
The India plant will repair and manufacture railway locomotive engines. It will also provide technology support to India’s rail system, and supply electric transmission systems to oil drilling, wind power generation and mining equipment making in India.
CRRC Vice President Yu Weiping said the new plant will create jobs and tax revenue for local people and help improve infrastructure.
It will advance cooperation in industrial capacity and local equipment manufacturing, he added.