[miningmx.com] – TRANSNET has signed a memorandum of understanding with Chinese locomotive manufacturer CSR Zhuzhou Electric Locomotive, to set up manufacturing facilities in South Africa and exploit opportunities for business elsewhere on the continent, said BDLive.
The memorandum was signed as part of President Jacob Zuma’s official state visit to China to facilitate trade between that country and South Africa. CSR Zhuzhou will enter into a joint venture with Transnet and the entity will be based in South Africa.
In terms of the agreement, Transnet and CSR Zhuzhou will contribute their expertise in areas of possible co-operation such as the establishment of a research and development facility, the setting up of manufacturing plants in South Africa, the joint initiation and development of business opportunities in Africa, as well as establishing a training centre in South Africa.
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