GE clinches US$2.6b Indian railway contract
New Delhi
GENERAL Electric Co has won a US$2.6 billion contract to supply India's railways with 1,000 diesel locomotives, as the state-owned network looks to foreign capital to help it modernise.
The US company will also invest US$200 million to build local manufacturing and service facilities, GE said in a statement on Monday. "In most of our growth markets, localisation is typically a key part of any infrastructure deal we do," Jamie Miller, chief executive officer of GE Transportation, said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
BP keen to buy Tesla supercharging sites for US expansion
SingPost H2 profit up 93.4% at S$66.9 million; proposes S$0.0056 per share final dividend
China’s Zeekr prices US IPO at top of range to raise US$441 million: source
China’s BYD will consider second Europe plant in 2025, executive says
Passenger plane's tyre bursts on landing in Turkey; no casualties
Boeing passenger plane exits runway in Senegal, injuring 11