Seimens-India sign $3.25 billion contract
Technology
India which used to construct own trains wants to improve dependability and average speeds
ZURICH (Reuters) - The largest locomotive contract in Siemens history, worth $3.25 billion, was signed to supply and maintain freight trains in India, the German engineering giant announced on Monday.
The contract calls for the delivery of 1,200 electric locomotives as well as service for 35 years, it is also Siemens largest-ever contract in India.
The 9,000-horsepower, 120 km/h (75 mi)-per-hour, Siemens-designed trains would be built in India over the course of 11 years with delivery beginning in 24 months.
According to Siemens Mobility CEO Michael Peter, "These new locomotives can replace anything from 500,000 to 800,000 vehicles throughout the course of their lives." He said that the deal was a significant milestone for Siemens in India.
In an interview he said that India was searching for technology, higher efficiency and longer lifetime for its trains. India used to construct its own trains but it now wants to improve both dependability and average speeds.
