Alstom bags contract

NEW DELHI: French engineering firm Alstom has won a contract worth $3 billion to modernise India’s vast colonial-era train network, the government revealed on Tuesday, a day after another mega agreement was announced.

Alstom will supply 800 electric locomotives and build a factory in the eastern state of Bihar as part of a contract expected to be signed in a month, a senior railways ministry official said on Tuesday.

Late Monday, the Indian government said it had awarded a $2.6-billion contract to General Electric to develop and supply Indian Railways with 1,000 diesel locomotives over a period of 11 years.

The Alstom deal is said to be worth INR 200 billion.