State monopoly Kazakhstan railway will enrich locomotive depot due to credit

/REUTERS, Astana, Raushan Nurshayeva, March 14, 03/ - State-owned railway monopoly Kazakhstan temir zholy, which has not renewed its locomotive depot for last eight years, intends to purchase in China 152 locomotives, informed the company. "A Chinese company has won tender for modernization of locomotives for $200 million.... The credit is given by Eximbank of China for 14 years in the amount of $200 million on 5.6% APR, payments on the credit are not made for the first four years", - said the company's head Yerlan Atamkulov speaking at the meeting on Friday. Two locomotives will come to Kazakhstan from China in ready form, the other 150 ones will be assembled at Kazakhstan plants till 2009, the company's press- release says. According to Atamkulov's words, during the last seven-eight years the company did not renew locomotive depot. The press-release says about "mass" depreciation of tractive powers of Kazakhstan railroad, which is 65-70%, and depreciation on separate types of traction reaches 80-90%. Today Kazakhstan temir zholy, which plans KZT42.2 bn of investments for the year 2003, exploits 1,254 locomotives. [2003-03-14]