GE, China to build high-speed railway projects in US
- Source: Global Times
- [15:21 November 18 2009]
- Comments
General Electric Co. (GE) and China's Ministry of Railways signed a memorandum of understanding (MOU) Tuesday, committing to jointly pursue partnership opportunities for high-speed rail projects in the US.
According to the MOU, GE and Chinese State-owned railway companies will begin preparation work to construct high-speed rail projects in the US that run at speeds of more than 350 kilometers per hour.
Tim Schweikert, president and chief executive of GE transportation in the China market said the company's technology in locomotive diesel and railway electrification is a world leader, and the technology and skills that Chinese companies grasp in building high-speed rails with speeds of more than 350 kilometers per hour is mature and comprehensive. This win-win cooperation, according to Schweikert, can undoubtedly provide the best solution for the building the railway.
According to Lorenzo Simonelli, president and chief executive of GE transportation, China will be an indispensable partner of GE transportation's development and growth, and improving the technology of high-speed railways is the common goal of China and GE. He said the company looks forward to a win-win cooperation.
Analysts said this memorandum is also expected to create more job opportunities in both China and the US.
GE transportation also announced it will establish a joint venture with CSR Qishuyan Locomotive Co. Ltd. to produce locomotive diesel engines in China.
