Siemens Confirms $1b Chinese Train Order

German industrial conglomerate - Siemens AG - confirmed Tuesday that a contract to supply China with 100 high speed trains has been signed, The Time Weekly reports.

According to the company's press spokesman Ulendorff, these 100 high speed trains will be jointly produced in factories of Nurnberg and Krefeld in Germany, and also in factories in Austria and China, however, Ulendorff didn't give much details.

The company said on March 20th that it had signed a deal with Tangshan Railway Vehicles Co. Ltd., Changchun Railway Vehicles Co. Ltd., and the Chinese Academy of Railways to supply components such as electrical equipment and chassis to the project.

The order includes the first batch of trains for the new Beijing-Shanghai route, which will be put into service at the end of 2010, Siemens said.

The Siemens share of the contract is worth around 750 million euros, or 1 billion US dollars.

The order is seen as a booster for Siemens, especially for its Mobility Division in the Siemens Industry Sector, which is now in financial trouble.

The order will produce the world's longest single train with a total length of 400 meters. 

Source: CRIEnglish