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Alstom gets $3 billion supply contract in India

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Staff writer ▼ | November 10, 2015
India's Railway Ministry said Alstom SA has won a $3 billion contract to supply the country's state-owned railroad company with electric locomotives.
India   Alstom will set up a joint venture
The French maker of subway cars and trains will supply 800 locomotives over a period of 11 years to Indian Railways, according to the ministry. General Electric Co. announced on Monday a similar deal to supply 1,000 diesel locomotives.

Alstom will set up a joint venture to manufacture the locomotives with Indian Railways in which Alstom will own 74%, according to the ministry, the same arrangement as with GE.

"These are the largest deals in a century in India in the railway sector," said Amitabh Kant, who oversees the Indian government's efforts to boost its manufacturing sector.