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Kazakhstan Temir Zholy presents $36.5 billion modernization program
(SRI) - Kazakhstan Temir Zholy (KTZh), the national railway operator, presented a KZT 5.5 trillion ($36.5 billion) modernization program for the Kazakh railroad industry to be completed by 2020.
“The company has developed a program for modernization and upgrade of assets by 2020, the strategic objective of which is to provide an adequate transport framework for post-crisis economic growth,” KTZh CEO Askar Mamin said in Astana on Thursday.
The program envisions the company to update 14,500 kilometers of railways and acquire 512 locomotives, 53,512 freight cars and 1,982 passenger cars. According to Mamin, the modernization program will help to “dramatically improve economic performance of the railway, improve safety, increase capacity, and overall bring rail transport [in Kazakhstan] to international standards.”
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