CRRC Sifang signs deal with Indonesia

A CRH train production site of CRRC's Qingdao Sifang Co Ltd in Qingdao, Shandong province. [Photo/Xinhua]

CRRC Sifang Co Ltd, a subsidiary of China's rail giant China Railway Rolling Stock Corporation, will provide 11 eight-unit trains for the rail project linking Jakarta to Bandung in Indonesia, the company announced on its website on Wednesday.

CRRC has not disclosed the deal value, however, according to Chinese news portal Sina.com, the value was 2.51 billion yuan ($364 million).

The deal is part of an Engineering, Procurement and Construction (EPC) contract signed on April 4 between a consortium of Chinese and Indonesian firms and KCIC, a firm tasked with monitoring the high-speed train project and unveiling the construction phase of the project.

The 142-km-long railway project, expected to be built in three years, could cut the travel time between these two cities from several hours to half an hour.

CRRC also signed a $191 million contract with Malaysian authorities on March 11, promising to build 22 multiple units for the latter. The purchase marks the company's first successful attempt to localize its manufacturing and management in Malaysia, which signifies great progress for China's future rail exports.