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    Sonal Shridhar Shinde in News

    17-Jan-2023 05:50 AM


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    Under $3.25 Billion Deal, Siemens To Deliver 1,200 Freight Trains In India

    Siemens' deal is the biggest locomotive contract in its history.(File) Siemens has signed a 3 billion euro ($3.25 billion) contract to supply and service freight trains in India, the German engineering company said today, the biggest locomotive deal in its history.
    "These new locomotives ... can replace between 500,000 to 800,000 trucks over their lifecycle," said Siemens Mobility CEO Michael Peter.
    "India is looking for technology, better efficiency, and a longer lifespan for its trains," he said in an interview. "
    Michael Peter was confident about reaching Siemens's goal of increasing revenue in the mobility business by 6-9% this year, although this contract would mainly appear as orders in 2023.
    Source: NDTV