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GE Transportation, Locorail And Yakutia Railways Sign Memorandum Of Understanding To Explore A Strategic Relationship To Modernize Locomotives In Russia

Stocks in this article: GE

GE Transportation, Locorail and Yakutia Railways in Russia announced today that they have signed a Memorandum of Understanding (MOU) to explore the possibility of forming a strategic relationship to modernize diesel electric locomotives. The MOU creates a framework by which Yakutia Railways, under GE license, will modernize diesel electric locomotives at Yakutia Railways facility in Aldan, Russia utilizing GE FDL engine kits manufactured at GE Transportation facilities in Erie and Grove City, PA. USA. Under the agreement’s framework, GE Transportation will supply a minimum of 20 FDL engine kits per year over five years.

GE Transportation will work with Locorail and Yakutia Railways to provide expert service training to maintain and overhaul the modernized FDL engines. GE Transportation will provide support to address specific improvements that include tooling and equipment at the Yakutia Railways facility in order to provide maximum availability of GE modernized diesel-electric locomotives in the Locorail and Yakutia Railway fleet.

Lorenzo Simonelli, President and CEO of GE Transportation, said: “GE Transportation has been partnering with regional locomotive builders to produce the most technologically advanced and fuel efficient locomotives worldwide. GE along with its local partners has a long history of modernizing locomotives as well as building new locomotives in Kazakhstan and the CIS region. This agreement will provide the framework to provide Locorail and Yakutia Railway the ability to provide reliable locomotive service to the region for decades. We look forward to providing GE Transportation’s advanced locomotive technology and contributing to the Republic of Sakha’s sustainable infrastructure growth for many years to come.”

GE works to power and move the Commonwealth of Independent States (CIS) region with GE’s most technologically advanced, fuel efficient, cost effective, and reliable locomotives to-date. Currently there are approximately 600 GE locomotives and modernized locomotives in operation in the CIS region. The need for safe, reliably maintained locomotives has become increasingly important. Through the initiatives laid out in the framework of the MOU, Locorail and Yakutia Railways will realize significant improvements in the performance of their locomotive fleets.

About GE Transportation

GE Transportation, a unit of GE (NYSE: GE), solves the world’s toughest transportation challenges. GE Transportation builds equipment that moves the rail, mining and marine industries. Our fuel-efficient and lower-emissions freight and passenger locomotives, diesel engines for rail, marine and stationary power applications, signaling and software solutions, drive systems for mining trucks, and value-added services help customers grow. GE Transportation is headquartered in Erie, Penn., and employs approximately 12,000 employees worldwide. For more information visit www.getransportation.com.



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