NAZA GROUP OF COMPANIES AND CSR ZHUZHOU ELECTRIC LOCOMOTIVE CO. LTD SIGN STRATEGIC MOU FOR POTENTIAL LOCOMOTIVE TRANSPORTATION PROJECTS IN MALAYSIA
June 06 2014
KUALA LUMPUR – Naza Group of Companies and China’s largest electric locomotive manufacturer, CSR Zhuzhou Electric Locomotive Co. Ltd signed a memorandum of understanding (MOU) to jointly implement and carry out the development and construction of potential locomotive projects in Malaysia.
This collaboration, whichis the first for a wholly-owned Bumiputra company with CSR Zhuzhou Electric Locomotive Co. Ltd will open doors for the Naza Group in the development of transportation infrastructure business, expanding from the latter’s traditional core business in the automotive sector and property development.
Signing on behalf of Naza Group of Companies was SM Nasarudin SM Nasimuddin, Joint Group Executive Chairman while CSR Zhuzhou Electric Locomotive Co. Ltd’s Chairman, Zhou Qinghe, inked the deal on the company’s behalf. The signing was held at the recent China-Malaysia Business Summit in Beijing, witnessed by Prime Minister Datuk Seri Najib Tun Razak and Vice Premier of China’s State Council Wang Yang.
SM Nasarudin said of the MOU, “With the signing of the MOU, Naza and CSR Zhuzhou Electric Locomotive Co. Ltd have provided the basis for a cooperation-focused framework that will enhance economic development, create new jobs and promote research and development for high-speed railway technology.
“While Naza has been in the Malaysian automotive industry for forty years, CSR Zhuzhou Electric Locomotive Co. Ltd has a long-standing knowledge of supplying electric locomotive worldwide. Working together, both parties could develop the best solutions faster to serve Malaysia's rail needs for many years to come.”
CSR Zhuzhou Electric Locomotive Co. Ltd is one of the major electric locomotive and rolling stock manufacturers in China. It is a subsidiary company of CSR Corporation Limited, a state-owned enterprise supervised by the State Council of the People’s Republic of China. The company mainly engages in traction motors, traction transformers, wind power motor and special motor manufacturing industry, electric locomotive in China, high-speed EMU, motors and transformers transit vehicles specialized scientific research, production base, the largest wind power motor producing enterprises, electric power, metallurgy, petroleum, defence, automotive and other industrial specialty electric motor products professional development base.
It has over 78 years of experience in the railway industry and has previously built the fastest metro rail in China.Thus, this strategic collaboration between the Naza Group of Companies and CSR Zhuzhou Electric Locomotive Co. Ltd's will not only provide the technical knowhow and transfer of technology but also generate career opportunities for local Bumiputra contractors and local multi-disciplinary white collar professionals.
Picture caption: (left to right) Five from the left Y.B Dato' Sri Mustapa Mohamed, Minister of International Trade and Industry, Y.B Dato Sri Mohd Najib bin Tun Abdul Razak, Prime Minister of Malaysia, En SM Nasarudin SM Nasimuddin, Joint Group Executive Chairman of Naza Group of Companies and Mr Zhou Qinghe, Chairman of CSR Zhuzhoiu Electric Locomotive Company Ltd at the signing ceremony for Potential Locomotive Transportation Porjects in Malaysia between Naza Group of Companies and CSR Zhuzho Electric Locomotive Company Ltd.
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