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Locomotive maker to quadruple sales

By Zheng Lifei (chinadaily.com.cn)
Updated: 2008-12-11 11:31

China Northern Locomotive & Rolling Stock Industry Corp, one of the country's two major locomotive makers, aims to quadruple its sales revenue to 140 billion yuan ($20.49 billion) by 2015, cashing in on the government's massive infrastructure spending.

The Beijing-based company has mapped out a "three-step" strategy, under which the firm is first aiming to double its revenue to 70 billion yuan by 2011, 21st Century Business Herald reported, citing its chairman Cui Dianguo.

The company is expected to chalk up 35 billion yuan revenue this year and plans to make it into the global Fortune 500 by 2020.

The locomotive maker estimates that the government's 4 trillion yuan stimulus package, of which a considerable amount will go into railway projects, will bring the company a 100 billion yuan order, the newspaper said, citing an unidentified company source.

On Wednesday the company signed a HK$1.1 billion contract with a Hong Kong metro operator, selling the latter 80 units of metro cars.