September 18, 2012 / 11:04 AM / 6 years ago

Bombardier signs $367 million train parts contract with Spain's Talgo

Employees and guests tour a Bombardier LRV train at the manufacturing facilities in Toronto May 29, 2012. REUTERS/ Mike Cassese

(Reuters) - Bombardier Inc (BBDb.TO) said its train unit signed a deal worth about 281 million euros ($367 million) with the Saudi Arabian unit of Spain’s Talgo to supply parts for 36 high-speed trains.

Intercity passenger train manufacturer Talgo was recently contracted by the Saudi Railways Organization to build and operate a 450-km high-speed railway connecting Mecca and Medina.

Bombardier, the world’s largest train maker, said the deal is likely to include propulsion and control packages and high-speed bogies. Most of these will be manufactured at its Trapaga plant in Spain.

Shares of the Montreal-based company, which is also the world’s third-largest plane maker, closed at C$3.74 on the Toronto Stock Exchange on Monday.

Reporting by Sandhya Vijayan in Bangalore; Editing by Joyjeet Das

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