India signs a train deal worth 3 billion euros with Siemens
In the largest locomotive deal in Siemens‘ history, the German engineering company reported on Monday that it had signed a contract with the Indian government. The contract is for the supply and maintenance of freight trains. The contract is worth 3 billion euros ($3.25 billion).
Under this agreement, Siemens will provide 1,200 electric locomotives and provide service for 35 years. It is also Siemens’ largest ever contract in India. Siemens-designed, 9,000-horsepower trains will be assembled in India over the next 11 years, with deliveries beginning within 24 months.
Siemens has won another bumper contract after signing a 900 million euro deal for a new metro line in Sydney, Australia in December. New Delhi intends to increase the rail network’s share of freight transport from 27% to 40-45%, according to Siemens, whose first contact in India was a London-Calcutta telegraph line built in 1867.