Naza Group is branching out into the train business through a strategic partnership with China's electric locomotive manufacturer CSR Zhuzhou Electric Locomotive Co Ltd.
Together, they will implement and carry out the development and construction of potential projects here, said Naza Group joint executive chairman SM Nasarudin SM Nasimuddin.
"The alliance will open doors for the Naza Group in the development of transportation infrastructure business, expanding from its traditional core business in the automotive sector and property development. With this partnership, both companies have provided the basis for cooperation-focused framework that will enhance economic development, create new jobs and promote research and development for high-speed railway technology," he said in a statement yesterday.
Naza and CSR Zhuzhou signed a memorandum of understanding (MoU) on the alliance at the recent China-Malaysia Business Summit in Beijing, witnessed by Prime Minister Najib Razak and Vice-Premier of China's State Council Wang Yang.
-New Straits Times
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Keywords: MALAYSIA PRESS/NAZA TTDI
