Austrian steel producer Voestalpine AG has announced that Chinese New Turnout Technologies (CNTT), a 50/50 joint venture between China's largest manufacturer of turnouts, China Railway Shanhaiguan Bridge Group (CRSBG), and two of Voestalpine's subsidiary companies, Austria-based VAE and Germany-based Voestalpine BWG, has won a €80 million contract from the Chinese railway authorities for the supply of high-speed turnouts for the Beijing to Shanghai line. The contract in question will be signed shortly and will run over the next two years.
According to Voestalpine AG 's release, by winning the contract in question CNTT has secured a major share of the whole project, forming part of the accelerated expansion of the Chinese high-speed rail network.