Chinese officials inked a $350 million deal today for railway track maintenance equipment with West Columbia-based Harsco Track Technologies.
Two sales contracts, the largest ever in Harsco’s history, were signed with the Chinese Ministry of Railroads and cover purchases over the next four year. They are expected to lead to the creation of new jobs at the West Columbia plant.
Chinese and S.C. officials today also signed the first ever Memorandum of Understanding between the two governments. The agreement establishes South Carolina as a preferred U.S. location for Chinese businesses and identifies areas for enhanced cooperation.
The agreement covers the exchange of information regarding investment policies and opportunities, promotion of investment activities such as trade missions and trade fairs, and identifying key sectors for potential investment.