Chinese rail maker CRRC starts operation in India
The Dollar Business Bureau China Railway Rolling Stock Corporation (CRRC), Chinese biggest high speed train manufacturer, has said that its $63.4 million first joint venture (JV) plant in India for repairing and manufacturing the railway locomotive engines has begun its operations. CRRC, a state-owned firm, is the first international company to set up an assembly line for making rail transportation equipment in the country after PM Narendra Modi launched his ambitious scheme of 'Make in India' in 2014, CRCC said in a statement. The JV is named CRRC Pioneer (India) Electric Co Ltd and located in the state of Haryana. The manufacturing unit was established with an investment of $63.4 million and the Chinese company holds a majority share of 51 percent, as reported ...
