Deutsche Bahn awards Bombardier €1.5-billion deal
AFP - [email protected]
Published: 5 Jan, 2009 CET.
Updated: Mon 5 Jan 2009 18:57 CET
The German railway Deutsche Bahn (DB) said on Monday it would buy up to €1.5 billion ($2.0 billion) worth of train cars from the Canadian group Bombardier.
The contract was for options on up to 800 double-decker train cars for regional German service, a DB statement said.
"In these difficult economic times, we have decided to invest in the future," Bahn boss Hartmut Mehdorn said in a statement. "We wanted to send a signal on economic policy."
The head of Bombardier Transport, a subsidiary of the Canadian group specialised in rail operations, Andre Navarri, noted that "it is the biggest framework agreement ever signed between Deutsche Bahn with a single supplier."
Transformation of the options to firm deliveries could begin in 2011, and the contract would run until 2020, a DB spokeswoman told AFP.
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The contract was for options on up to 800 double-decker train cars for regional German service, a DB statement said.
"In these difficult economic times, we have decided to invest in the future," Bahn boss Hartmut Mehdorn said in a statement. "We wanted to send a signal on economic policy."
The head of Bombardier Transport, a subsidiary of the Canadian group specialised in rail operations, Andre Navarri, noted that "it is the biggest framework agreement ever signed between Deutsche Bahn with a single supplier."
Transformation of the options to firm deliveries could begin in 2011, and the contract would run until 2020, a DB spokeswoman told AFP.
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