CSR unit wins $2.1b deal in South Africa

Rolling stock manufacturer CSR Corp Ltd got a boost in its share price after a subsidiary announced on Monday that it won a bid to supply electric locomotives in South Africa.

CSR Zhuzhou Electric Locomotive Co will provide electric locomotives valued at $2.1 billion to state-owned South African logistics company Transnet SOC Ltd, the largest export deal for the Chinese manufacturer.

On Tuesday, CSR shares jumped 13.1 percent to HK$6.3 (80 cents) in Hong Kong and nearly 4.7 percent to 4.4 yuan (70 cents) in Shanghai.