ASTANA, Kazakhstan, November 7. As part of his official visit to the United States, Kazakhstan’s President signed a key mandate agreement securing $1.6 billion in financing over 10 years to upgrade the country’s locomotive fleet, Trend reports.
According to Kazakhstan Railways, deliveries of Wabtec locomotives are planned through 2038.
The agreement was concluded between Kazakhstan Railways and Citibank, which is coordinating the financing. The deal is backed by the U.S. Export-Import Bank (US EXIM), serving as the guarantor.
Under the program, locomotives will be manufactured locally at the Locomotive Assembly Plant in Astana, a subsidiary of Wabtec Transportation Engines Holding B.V.
The initiative aims to comprehensively modernize Kazakhstan’s traction fleet, significantly improving energy efficiency and meeting the growing demands of freight transportation.