China’s high-speed train maker launches operations in India
China’s largest high-speed train maker has announced that its first USD 63.4 million joint venture plant in India to repair and manufacture railway locomotive engines has started operations.
The state-run China Railway Rolling Stock Corporation (CRRC) is the first foreign company to set up assembly line of rail transportation equipment in India after Prime Minister Narendra Modi unveiled his ambitious ‘Make in India’ campaign in 2014, the company said in statement.
The joint venture named CRRC Pioneer (India) Electric Co. Ltd. is housed in Haryana.
The plant was set up with an investment USD 63.4 million and the Chinese side holds 51 per cent of the share, state-run Xinhua news agency reported.
The India plant will repair and manufacture railway locomotive engines.
China is also conducting feasibility study to build a high-speed railway line between Chennai and New Delhi.
Japan has bagged the first bullet train project to build a high-speed rail line between Ahmedabad and Mumbai.
CRRC Vice President Yu Weiping said the new plant will create jobs and tax revenue for local people and help improve infrastructure.