China North Railway (CNR) has established a joint venture in Australia, its first such overseas partnership.
The new company, Pacific Rail Engineering Pty Ltd, is a 50-50 joint venture between CNR subsidiary Qiqihar Railway Rolling Stock and Australian firm B&W.
While Qiqihar Railway Rolling Stock has exported over 12,000 wagons to Australia since 2000, the new venture will see it also provide freight train repair services, according to the release.
The joint venture was established after the recent merger of CNR and China South Railway, a move that was subject to anti-trust probes abroad.
Controlling China’s entire high speed rail market, CNR and China South Railway announced on December 30 that they would merge into a new company.
Photo: http://www.chinacnr.com/
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