Alstom wins $3 billion Indian railway contract

By: |
Published: November 10, 2015 12:15:28 PM

Alstom has won a contract worth around 200 billion rupees ($3 billion) to supply India's railways with 800 electric locomotives and set up a local manufacturing plant...

alstomAlstom has won a contract worth around 200 billion rupees ( billion) to supply India’s railways with 800 electric locomotives and set up a local manufacturing plant. (Reuters)

French engineering company Alstom has won a contract worth around 200 billion rupees ($3 billion) to supply India’s railways with 800 electric locomotives and set up a local manufacturing plant, a railways spokesman said on Tuesday.

The contract is one of the largest awarded to a foreign firm since India last year opened up limited parts of its state-owned railways to 100 percent foreign direct investment, and comes as the government tries to modernise its vast but outdated rail network.

US company General Electric said on Monday it had won a deal worth $2.6 billion to supply India with diesel locomotives over the next 11 years. ($1 = 66.3600 Indian rupees)

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Small buys add up to a big rise in festival season sales
2GSPL pipeline to link Cairn’s Barmer block to gas grid
3Double digit growth in Dhanteras car sales