CSR wins Argentina train contract

CSR Sifang Co, a subsidiary of the country's biggest train maker CSR, said Saturday that the company has obtained a contract worth over 3.4 billion yuan ($539.68 million) to supply electric multiple unit (EMU) train sets for Argentina.

The deal represents CSR's single largest rail equipment order in South America, the company said in a statement filed to the Shanghai Stock Exchange.

CSR Sifang is expected to deliver the first batch of train sets in May 2014.

CSR's overseas orders increased substantially in 2012, with a year-on-year surge of 148 percent in 2012.

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