General Electric to supply 200 locomotive sets to Kazakhstan Temir Zholy

/IRBIS, October 14, 04/ - Information below is translated abstract of Kazakhstan today news. American Export-Import Bank (Eximbank) approved guarantee on long-term loan for Kazakhstan Temir Zholy (KTZ, Kazakh railroad national operator) on supply of locomotive sets. General Electric is a provider of the sets. Total amount of the loan is $121.7 m. KTZ conducts modernization of hauling equipment in order to satisfy increasing demand for cargo and passenger transportation. The sets will renew 18 years old hundred locomotives of TE10 model. As a result their exploitation period will be prolonged for 15-20 years. Provision of the loan is locomotives. KTZ is a first non banking entity to receive loan without government guarantee. The guarantee creditor over the deal is ABN AMRO BANK N.V. General Electric informed that new order would preserve or create 575 workplaces. This is a second deal of Eximbank with KTZ. In December 2003, guarantee of the Bank allowed KTZ to buy 54 sets from GM ($33.1 m). [2004-10-14]