Project Cooperation Agreement Signed between CSR and Nanjing Municipal Government

The move to revitalize equipment manufacture industry is seen. On Feb,12, Nanjing municipal government of Jiangsu Province formally signed a cooperation agreement with CSR on Phase construction engineering project of new plant of CSR Nanjing Puzhen Rolling Stock Co., Ltd. in Beijing. Shao Ning, vice director of SASAC, Zhu Shanlu, Secretary of Nanjing Municipal Committee of the CPC, Jiang Hongkun, mayor of Nanjing, Zhao Xiaogang, Chairman of CSR, Tang Kelin, executive director and vice president of CSR attended into the ceremony.

In order to face the international financial crisis, central committee of CPC and state council has deliberately deployed policies and measures to further inspire the internal demand. As an important part of national industry revitalization plan, railway transport equipment industry shoulders the key responsibilities of ensuring economic increase through stimulating internal demand and promoting model-transition through restructuring.

For carrying out the deployment of industry revitalization and expedite the development of regional economy, CSR as the investor and Nanjing Municipal Government as the service-provider signed a cooperation agreement on Phase construction engineering project of new plant of CSR Nanjing Puzhen Rolling Stock Co., Ltd.

According to the agreement, the project will generate an annual production ability of 800 units of aluminum alloyed and stainless steel car bodies as well as 1000 jointing bogies. It mainly includes construction as building new facilities and auxiliary equipments, increasing techniques and auxiliary outfits for production and so on. The project is predicted to be finished in the end of December, 2009.

It is known that CSR as the enterprise directly administrated by SASAC is the largest railway transport outfit manufacturer in China. Nanjing Puzhen Rolling Stock Co., Ltd. as a subsidiary company of CSR, is the qualification-granted enterprise of localization of urban mass transit vehicle in China as well as the outstanding company of research and manufacture for passenger coaches and MUs.

CSR always regards Nanjing as an important region of project investment and construction for the purposes to optimize industry deployment and strengthen its core businesses such as mass transit vehicle manufacturing.

In the meeting before agreement-signing, Chairman Zhao Xiaogang pointed out that the project invested this time was the important measure of accelerating current development and enhancing the potentiality in the future. After the establishment of the project, CSR Nanjing Puzhen will become the important research and manufacture base for passenger coaches, mass transit vehicles and MUs. Meanwhile, CSR will definitely insure the investment fund to safeguard the completion of the project in the due time.

Nanjing Municipal Government stressed that stable trust and strategic partnership on investment development has been established between itself and CSR through years of cooperation. As local government, Nanjing Municipal Government will provide full support that is needed and all kinds of efficient administrative services for the project to ensure the smooth construction of the project.