(Yicai Global) April 14 -- CRRC Changchun Railway Vehicles Co., an affiliate of CRRC Corp. [SHA:601766], signed a rail car sales contract with Los Angeles County Metropolitan Transportation Authority (LA Metro) on April 12. This is the third US project order received by CRRC Changchun following two orders from Boston Metro.
Under the deal, LA Metro will spend USD647 million on 282 railway vehicles from the Chinese rolling stock manufacturer. It will initially shell out USD178 million to buy 64 trains that will be used to upgrade the county's subway system, state-run Xinhua news agency reported.
"CRRC is the world's largest supplier of rail transit equipment, boasting the most complete product lines and state-of-the-art technologies, with products spread over 102 countries and regions," said CRRC President Xi Guohua. "North America is currently the region claiming the largest market volume of rail transit equipment. CRRC attaches great importance to opening up the North American market, with products having entered cities such as Boston, Chicago, Los Angeles, and Philadelphia."
CRRC is a cost-effective company with a strong delivery capacity that helps the company get products to customers on time, Xi said. The firm offers quality service and its technology is completive, he said.
"We work with the local companies, local government, and local educational institutions to create a win-win situation," Xi said. "We will create job opportunities, increase tax revenue and stimulate the local economy through our partnership and collaborations"
"CRRC is a fantastic car-marker," said LA Metro Chief Executive Philip Washington. "Great quality, great reliability on the vehicles. We want the best here in LA County, and we think we selected the best, and we look forward to the partnership to build these vehicles."
CRRC products will help Los Angeles make its transit network better and improve comfort and convenience for those riding the metro, Washington said.
The new trains will run up to 120 kilometers per hour and can be in service for 40 years, per the transport authority's request.