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Bombardier’s venture in China gets $453 million state rail contract

Bombardier's venture in China gets $453 million state rail contract

Canadian plane and train maker Bombardier Inc’s Chinese joint venture said on Thursday it had won a $453 million contract to supply 168 high-speed train cars to state-owned China Railway Corp (CRC).

The win for the Canadian company comes a day after it lost a C$989 million ($741 million) rail order in Canada when state-owned Via Rail picked Germany’s Siemens AG to supply new locomotives.

The Chinese joint venture, Bombardier Sifang (Qingdao) Transportation Ltd (BST), is 50 percent owned by Chinese locomotive firm CRRC Sifang Locomotive & Rolling Stock Co Ltd.

In September, CRC had awarded the Bombardier JV an initial contract worth $324 million to supply 120 train cars by end of this year.

 

Source: Reuters

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