JOC Staff | Nov 28, 2012 10:52AM EST
The Export-Import Bank of the United States; Kazakhstan Temir Zholy, Kazakhstan’s state-owned national railway company; and KTZ’s subsidiary Joint Stock Company Lokomotiv recently signed an agreement for a $425 million loan to finance the sale of 200 General Electric Evolution Series locomotives and locomotive kits to KTZ.
The agreement was signed by Fred P. Hochberg, Ex-Im’s bank chairman and president; Kanat Alpysbayev, KTZ’s chief financial officer; and Marat Medeubayev, Joint Stock Company Lokomotiv’s CEO.
The loan is the largest single amount of financing that Ex-Im has provided to any railroad in the world in the past 15 years. The deal is also GE’s largest equipment sale to date with KTZ since it began selling to the railway in early 2000.
