Argentina bought 409 rail cars that will make up 55 train formations from the State-owed China South Locomotive and Rolling Stock Corp Ltd, one of the country's two leading train makers, according to an e-mailed statement from the Embassy of Argentina sent on Monday.

The trains will be used to replace equipment running on two suburban lines in the South American country's capital of Buenos Aires.

The value of the purchase was $514 million, with a 30 percent down payment, another 60 percent during the supply of the rail cars and the final 10 percent installment on delivery of the last unit. The purchase will not receive financing.