U.S. high speed rail just got another boost from the Chinese, the current world leader.
General Electric has joined with Chinese manufacturer CSR Corporation Limited to advance high speed rail projects in the United States by combining GE's manufacturing and supply chain with CSR's rail development and operations expertise.
CSR is one of the world's largest transportation equipment companies.
The $50 million dollar investment is the first phase of the agreement, which aims to create an estimated 250 high-tech jobs by 2012. All final production will takes place in the States, sustaining 3,500 long-term high-tech manufacturing U.S. jobs.
It will also be the first venture to supply high speed passenger trains for the proposed Florida and California high speed rail corridors.
“We are committed to advancing the global high-speed rail technology market and this agreement provides a significant opportunity for infrastructure and business growth,” said GE Vice Chairman John Rice in a press release.
“It is in line with GE's company-to-country initiatives and will help support investment and high-tech job growth in America.”
In addition to high speed rail, the partnership also advances passenger rail transport with medium-speed passenger trains and transit rail vehicles for America's urban areas.
Last November, GE signed a memorandum of understanding (MOU) with the Chinese Ministry of Railways to improve and support passenger rail in the U.S.
This most recent partnership is yet another step forward toward that goal.
While the U.S. is just breaking ground on high speed rail projects, China continues to reinforce their fast rise to dominance. Last week, the Middle Kingdom debuted a high speed passenger train that reached a record 302 mph. Just yesterday, the Chinese announced agreements with Thailand and Laos to build high speed railways connecting the two countries to China.
Subscribe to