China, Alstom sign strategic cooperation agreement
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China's Ministry of Railways (MOR) and French rail and power generation company, Alstom, Tuesday signed a long-term strategic cooperation agreement in Beijing.
Under the terms of the agreement, the MOR and Alstom will accelerate cooperation on a range of rail sectors, including rolling stock and signalling systems for intercity and high-speed trains.
Alstom will also work with the MOR and Chinese industrial partners to jointly design, develop and promote advanced rail products and services, which meet the requirements of both domestic and international markets.
Patrick Kron, Alstom chairman and chief executive officer, said, "China is a strategic market for our transport activities, due to its size and its high growth potential."
Alstom would continue its long-standing commitment to China by offering state-of-the-art rail transport, power generation and transmission products for the rapidly increasing Chinese market, said Kron.
Alstom has operated in China for more than 50 years. Its presence includes five joint ventures, eight project offices and three industrial partnerships in metro, locomotive and passenger trains.
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