China's biggest high-speed train manufacturer China Railway Rolling Stock Corporation Ltd. (CRRC) revealed on Saturday that its first $63.4 million joint venture plant in India, which would be used to make and repair railway locomotive engines, has started operating in Baval District, Haryana.

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This is the first CRRC plant in South Asia, according to Xinhua. The project highlights the Sino-India cooperation in the railway industry, Hindustan Times reported.

"It is the first time for the company to open a plant in south Asia where one of the world's most comprehensive rail system spans. CRRC is also the first foreign company to set up an assembly line of rail transportation equipment in India after PM Narendra Modi unveiled his ambitious 'Made in India' campaign in 2014," the CRRC said in a statement.

China has a 51 percent stake in the plant. The joint venture is called CRRC Pioneer (India) Electric Co. Ltd.

Aside from repairing and making railway locomotive engines, the plant will also provide technological support to India's rail system and provide electric transmission systems for making equipment that would be used for oil drilling, wind power generation, and mining, the Economic Times reported.

Yu Weiping, vice president of CRRC, hopes that the new project would open up more job opportunities, general tax revenues, and improve infrastructures.

"CRRC will build more plants able to produce trains, locomotive traction systems and other key parts in India," Weiping said.

CRRC was established last year after a merger between China CNR Corporation Limited and CSR Corporation Limited. It has since shifted its priorities to foreign markets.

Tagschina, India, CRRC, China Railway Rolling Stock Corporation, Railway system, Sino-India cooperation, Made in India, CRRC Pioneer (India) Electric Co.