GE and China Sign MoU for US Rail Market

19 November 2009 (Last Updated November 19th, 2009 18:30)

GE and the Chinese Ministry of Railways have signed a memorandum of understanding (MoU) to jointly advance high-speed rail opportunities in the US. Under the agreement, at least 80% of the content of any potential high-speed locomotives or signalling equipment would be sourced from US s

GE and the Chinese Ministry of Railways have signed a memorandum of understanding (MoU) to jointly advance high-speed rail opportunities in the US.

Under the agreement, at least 80% of the content of any potential high-speed locomotives or signalling equipment would be sourced from US suppliers, and all final assembly would be performed in the US.

GE Transportation China president Tim Schweikert said the agreement had provided GE and China's Ministry of Railways with the basis for a cooperation-focused framework that would enhance economic development, create new jobs and promote research and development for high-speed railway technology.

"Working together, both parties could develop the best solutions faster to serve America's high-speed rail needs for many years to come," Schweikert said

The US will spend more than $13bn over the next five years to develop high-speed rail infrastructure in the country.