Alstom Wins $3 Billion Contract to Supply Indian Railways With Locomotives
November 10 2015 - 3:10AM
Dow Jones News
By Niharika Mandhana
NEW DELHI--India's Railway Ministry said Alstom SA has won a $3
billion contract to supply the country's state-owned railroad
company with electric locomotives, the second such multi-billion
dollar deal announced this week.
The French maker of subway cars and trains will supply 800
locomotives over a period of 11 years to Indian Railways, according
to the ministry. General Electric Co. announced on Monday a similar
deal to supply 1,000 diesel locomotives.
Alstom will set up a joint venture to manufacture the
locomotives with Indian Railways in which Alstom will own 74%,
according to the ministry, the same arrangement as with GE.
"These are the largest deals in a century in India in the
railway sector," said Amitabh Kant, who oversees the Indian
government's efforts to boost its manufacturing sector.
Write to Niharika Mandhana at niharika.mandhana@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 10, 2015 02:55 ET (07:55 GMT)
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