OREANDA-NEWS. January 22, 2013. The municipal government of Hefei signed a strategic cooperation agreement with China North Locomotive & Rolling Stock Corporation (CNR) to establish a plant in the hi-tech district for manufacturing and repairing locomotives and rolling stock on Monday.

The company will invest roughly 3 billion yuan (USD 476 million) into the plant's rolling stock production lines, which are expected to have an annual capacity of 7 billion-yuan vehicles, its president Cui Dianguo said in an interview with anhuinews.com, adding that the Hefei base is primarily designed for local market.

The move came after China South Locomotive & Rolling Stock Corporation (CSR) agreed last December to set up a plant of the same kind in the city's Xinzhan district.

Cui pledged that as a leading enterprise in the rail equipment manufacturing industry, the CNR Corporation will boost the city's rail transportation sector with the aim of "green transportation, sustainable development".