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RAIL EMPLOYMENT & NOTICES



Rail News Home High-Speed Rail

1/19/2011



Rail News: High-Speed Rail

GE, Chinese railway ministry reaffirm commitment to U.S.-based HSR joint venture


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Today, GE Transportation signed a letter of intent with China’s Ministry of Railways (MOR) that reaffirms both parties’ intent to collaborate to manufacture high-speed rail technology in North America.

The parties initially signed a framework agreement in December to manufacture high-speed rail and urban transit vehicles, which “establishes GE as the first U.S. manufacturer ready to supply high-speed passenger trains for the two proposed, dedicated U.S. HSR corridors in Florida and California,” according to a prepared statement.

GE and MOR plan to invest about $50 million to establish a U.S.-based joint venture. Any high-speed trains or signaling equipment manufactured by the joint venture would be sourced from U.S. suppliers. In addition, all final assembly would take place in the United States, GE said.

GE is working to expand its rolling stock offerings to include high-speed passenger trains or Electric Multiple Units.

Meanwhile, GE today also signed a separate letter of intent with MOR valued at $1.4 billion, including $350 million for export in locomotives, locomotive sub-assembly kits, service support and railway signaling systems.