Wabtec's $4.2 Billion Locomotive Deal with Kazakhstan
Wabtec has secured a $4.2 billion agreement to supply 300 locomotives to Kazakhstan, enhancing the national railway. This partnership is expected to bolster 11,000 U.S. jobs. The deal follows discussions between former President Trump and Kazakhstan's President Tokayev and aims to strengthen U.S.-Kazakhstan economic relations.
Wabtec Corporation, a leading locomotive parts manufacturer, has entered into a substantial $4.2 billion agreement with Kazakhstan, according to an announcement from the U.S. Department of Commerce on Monday. Based in Pennsylvania, Wabtec will supply the Central Asian nation with 300 locomotives, boosting Kazakhstan's rail capacity significantly over the next ten years.
This landmark deal is projected to support approximately 11,000 American jobs, signifying a noteworthy advancement in U.S. manufacturing. The agreement comes in the wake of discussions between former President Donald Trump and Kazakhstan President Kassym-Jomart Tokayev, as confirmed by Commerce Secretary Howard Lutnick in a post on X.
President Tokayev has expressed willingness to engage in constructive dialogue on trade matters, following U.S. tariffs on Kazakhstan's exports. The deal not only promotes economic and job growth in the U.S. but also strengthens bilateral relations, with Wabtec's shares rising 4.7% post-announcement.
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