Chinese locomotive maker wins $2 billion bid

CSR Zhuzhou Electric Locomotive Co, a Chinese train manufacturer, announced on Monday that it has won a bid to provide $2 billion worth of electric locomotives to South Africa.

Based in Zhuzhou, Hunan province, CSR Zhuzhou is a subsidiary of CSR Corp Ltd, one of China's two leading train manufacturers.

The $2 billion order to export electric locomotives to South African Transnet SOC Ltd is the largest export order yet in the rail transit vehicle sector in China, according to a news release by CSR Corp Ltd.

Most of the electric locomotives provided to South Africa, the six-axis type with a maximum speed of 100 km per hour, will be used to transport coal and ore in South Africa, the news release said.

In 2012, CSR Zhuzhou won another bid to provide 95 electric locomotives to Transnet. So far, CSR Zhuzhou has won orders worth $2.5 billion for electric locomotives to South Africa.