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Nanjing (ANTARA News/Asia Pulse) - The U.S. General Electric (China) Co. Ltd. (GE) signed an agreement with Qishuyan Locomotive Co., Ltd, a subsidiary of the China South Locomotive & Rolling Co. Ltd. (CSR), on founding a diesel engine joint venture in Changzhou, east China's Jiangsu Province on March 17.

The joint venture
has a total investment of US$100 million, of which US$30 million will be invested in the first phase of construction. It will engage in manufacturing, assembly, testing, marketing and after-sale service of locomotive diesel engines and accessories.

The venture is expected to generate sales
amounting to US$50 million after one year of operation.


Source:
Business in Asia Today - March.19, 2010
published by Asia Pulse

Editor: Ricka
COPYRIGHT © 2012

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