General Electric, Alstom bag $5.6 bn Indian Railway Deals

Hyderabad, Nov 10: France's Alstom and US's General Electric are said to have won contracts worth a combined around Rs. 37,100 crore ($5.6 billion) from the Indian Railways. The contract is for supplying new locomotives to the Indian Railways, as the mammoth state-owned network wants foreign companies to help it modernise. France's Alstom is to supply 800 electric locomotives apart from building a factory in Bihar, railways spokesman told media today. The total value of Alstom's contract is around Rs. 20,000 crore ($3 billion), sources said. Meanwhile, GE is to provide 1,000 diesel locomotives to India Railways over the next 11 years. In addition to this, GE would be investing around Rs. 1,300 crore ($200 million) in a plant and maintenance sheds. this deal is worth around Rs. 17,300 crore ($2.6 billion).