UPDATE 1-China's CSR wins $275 mln worth of orders from Argentina

lunes 15 de diciembre de 2014 03:18 GYT

(Adds detail, background)

SHANGHAI Dec 15 (Reuters) - Chinese trainmaker CSR Corp Ltd said it won 1.7 billion yuan ($274.84 million) worth of orders from Argentina, as Chinese rail firms increasingly flex their muscles overseas.

CSR will provide locomotive products for a railway renovation project in the South American country, the company said on its website on Monday.

China has stepped up its focus on railways this year, spending 590 billion yuan ($95.4 billion) from January to October on new domestic lines and making a concerted effort to push its so-called "railroad diplomacy" overseas.

China Railway Construction Corp Ltd signed a $12 billion railway contract in Nigeria in November, the largest single overseas construction deal won by a Chinese firm.

CSR said it has been supplying trains and other rail products to Argentina since 2006. In 2013, it won two orders worth about $1 billion together from the country to supply inter-city trains.

CSR Corp and its main rival China CNR Corp Ltd are in merger talks to create a giant able to compete globally with the likes of Siemens AG and Bombardier Inc , state media have reported.

Shares in both CSR and China CNR have been suspended since late October ahead of an official announcement. ($1 = 6.1855 Chinese yuan) (Reporting by Adam Jourdan and Brenda Goh; Editing by Kim Coghill)