china train maker signs 395m contract after crash
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

China train maker signs $395m contract after crash

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleChina train maker signs $395m contract after crash

Shanghai - AFP

The Chinese state-owned company that made the trains involved in a deadly crash last month has signed a 2.54 billion yuan ($395 million) contract to provide trains to Turkmenistan. China South Locomotive and Rolling Stock Corp (CSR) signed the deal \"recently\" and is due to start delivery to the central Asian country in 21 months, the company said in a statement Monday. This is the second major order announced by CSR after a high-speed train crash near the eastern city of Wenzhou on July 23 killed 40 people and injured nearly 200 others. The company said on July 28 that it had received six contracts to provide locomotives worth 6.9 billion yuan -- or 10.6 percent of its 2010 revenue -- to unnamed local and overseas firms. China is keen to market its high-speed rail technology overseas, but the accident has raised fears such sales could be hampered. Shanghai-listed shares of CSR -- whose joint venture with Canadian firm Bombardier made both trains -- have dropped over 20 percent since the accident, which sparked concern over the safety of China\'s fast-growing high-speed network. A government investigation later blamed the crash on faulty signalling equipment. CSR nevertheless postponed a shareholders\' meeting originally planned for August 5, which was intended to vote on an 11-billion-yuan private placement to raise new funds. The company said the meeting had been rescheduled for September 29 so that it could communicate fully with its investors about the prospects of the firm and the industry. CSR posted a net profit of 2.04 billion yuan in the first half of the year, up 85 percent from the previous year on strong demand for high-speed rail equipment. Revenue jumped 42 percent to 40.12 billion yuan in the period.  

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china train maker signs 395m contract after crash china train maker signs 395m contract after crash

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 09:46 2017 Sunday ,27 August

Norway fines tourist guide for scaring polar bear

GMT 07:33 2018 Monday ,08 January

CIA chief denies agency role in Iran unrest

GMT 08:55 2017 Tuesday ,15 August

Shares of Fiat Chrysler surge

GMT 00:09 2017 Friday ,27 October

Alphabet quarterly profit climbs

GMT 09:53 2017 Saturday ,08 April

Mexico inflation hits new seven-year high

GMT 18:28 2012 Friday ,09 March

All balanchine

GMT 07:09 2015 Friday ,11 December

Syria government scrapes barrel

GMT 15:57 2017 Tuesday ,24 October

2018 Olympic torch ceremony hit by poor weather

GMT 03:22 2017 Wednesday ,02 August

At least 29 killed in Afghan Shiite mosque attack
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle