Bombardier wins $214 million railway contract in India
(Reuters) - Bombardier Inc's (BBDb.TO: Quote) train unit received a contract worth $214.4 million (11.2 billion Indian rupees) to make railway equipment for India's Mumbai Railway Vikas Corp (MRVC).
The contract will be funded equally by the World Bank and the Government of India.
Under the contract, Bombardier Transportation will design, manufacture and test propulsion and control equipment for trains and other equipment including fans, compressors, passenger information systems and high voltage instruments.
Bombardier, one of the world's largest maker of railway equipment, said deliveries will start in the last quarter of 2012 and will be completed in the third quarter of 2014.
The order relates to a total of 72 commuter trains of 12 cars each, the company said.
The parts will be designed at the company sites in Mannheim, Germany and the new railway vehicle site in Savli, Vadodara, India.
Bombardier's plant at Maneja, Vadodara will be involved in the supply of the parts, the company said.
In September, Berlin-based Bombardier Transportation had received an order for 76 metro cars worth about $120 million from India's Delhi Metro Rail Corp, adding to its 114-vehicle contract announced last year.
Shares of Bombardier, which is also the world's No. 3 aircraft maker, have lost 55 percent of their value in the past nine months. Continued...