Alstom gets $3 billion supply contract in IndiaStaff 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
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. ■