CSR Luoyang mass transit vehicle project launched

On the morning of March 23, the grand inaugural and project launch ceremonies of Luoyang CSR Mass Transit Vehicle Co., Ltd. that attracted wide attention fell in Luoyang, marking the formal launch of CSR Luoyang mass transit vehicle project and a substantial step in the strategic cooperation between CSR and Henan Province. Shi Jichun, vice governor of Henan, announced the launch of the project. Lian Weiliang, Party secretary of Luoyang and Zhao Xiaogang, chairman of CSR unveiled the plate of the new company.

In recent years, the State has intensified investments in the construction of railways and other infrastructure. Henan is in central China, Zhengzhou has always been a key mass rail transit hub in China, Luoyang is the sub-center of the urban agglomeration in the Central Plains, and the development of the rail transit in the agglomeration centering on Zhengzhou and Luoyang is of great importance to the rise of the central area.

As a Chinese leading rail transit equipment manufacturer as well as domestic largest metro vehicle manufacturer, CSR enjoys a tremendous strength and competitive edge in technology, marketing and other areas. In 2008, the Henan Provincial Government and CSR entered into a strategic framework agreement, deciding to rely on CSR Luoyang Locomotive Co., Ltd., CSR s subsidiary in Henan, to jointly advance the construction of the rail transit equipment manufacturing base. Both parties hoped to take this opportunity to promote the construction of mass transit and the development of the supporting industries in Henan, the fast growth of the local economy as well as the rapid development of CSR and its subsidiary in Henan.

The newly established Luoyang CSR Mass Transit Vehicle Co., Ltd. was jointly funded by CSR Zhuzhou Electric Locomotive Co., Ltd. and CSR Luoyang Locomotive Co., Ltd. As a leading enterprise of CSR, CSR Zhuzhou Electric Locomotive Co., Ltd. boasts a business scale of over RMB 10 billion and the advanced rail transit technology in the world, and pioneers the development of Chinese electric rail transit equipment. As a key enterprise of CSR, CSR Luoyang Locomotive Co., Ltd. has made outstanding achievements in locomotive maintenance. The joint efforts of CSR Zhuzhou and CSR Luoyang in the founding of Luoyang CSR Mass Transit Vehicle Co., Ltd. and the construction of the assembly and maintenance base of metro vehicles in Luoyang is of great strategic significance to the industrial upgrading of equipment manufacturing in Henan and Luoyang, increase in the capacity for independent innovation and expansion of the industrial scale, and serves as a major strategic move of CSR in developing the mass transit industry.

According to the source, the project of the CSR metro vehicle assembly and maintenance base in Luoyang acquired an new area of 300 mu, the production systems are planned as the metro vehicle assembly and metro equipment maintenance systems, and the new systems are proposed to construct general assembly, debugging, large component manufacturing plants and logistics warehouse with a total building area of over 30,000m². With an initial investment of nearly RMB 240 million, the project will turn out 200 metro vehicles a year.