Tashkent, Uzbekistan, Dec.28
By Demir Azizov - Trend:
The consortium comprising Chinese CNTIC (China National Technical Imp & Ex Corporation) and CNR DLRC (CNR Dalian Locomotive and Rolling Stock Co. Ltd) completed supplying freight electric locomotives for the Uzbekistan Railways state joint stock company, a representative of the company told Trend on Friday.
"The last batch of four electric locomotives has been received this week and the contract is fully closed," the representative said.
It was previously reported that Uzbekistan Railways signed a contract with a consortium consisting of Chinese CNTIC and CNR DLRC in December 2011 to supply 11 freight electric locomotives worth $44.39 million.
The contract was funded by Chinese Eximbank's loan worth $42.17 million and Uzbekistan Railways' equity.
The loan was delivered for 20 years with a five-year grace period at an interest rate of 2.25 percent per annum, including a margin of refinancing by the Uzbek National Bank for Foreign Economic Activity to the amount of 0.25 percent.
The freight electric locomotives were purchased as part of the rolling stock renewal and modernization program for 2011-2015.
Ozbekiston temir yollari (Uzbekistan Railways) SJSRC purchased electric locomotives from China worth $114 million in the last ten years.
Chinese CSR Zhuzhou electric lokomotive Co delivered some 12 freight electric locomotives and spare parts to Ozbekiston temir yollari SJSRC worth $40 million between 2002 and 2004.
The contract was fully financed with a loan from the European Bank for Reconstruction and Development (EBRD) allocated to Uzbek government in 1999.
CSR Zhuzhou Electric delivered some 15 passenger electric locomotives worth of $74.3 million to Uzbekistan between 2008 and 2010.
The contract is being financed with a loan from the Chinese Exim Bank in the volume of $70.1 million and equity of Ozbekiston temir yollari SJSRC.
Some 930 kilometers of Uzbekistan's railways with total length of 4,200 kilometers has been electrified, and over 600 kilometers of them has been electrified in last seven years. In total, it is planned to electrify nearly 2,000 kilometers of railways in the republic. About 60 percent of cargo turnover in the country and almost 80 percent of total export and import cargo transportation fell to Uzbekistan's railways.
Translated by L.Z.
Edited by C.N.
