Bom­bardier’s share of S/Africa rail con­tract amounts to $1.2 bn

Daily Trust - - BUSINESS NEWS -

Bom­bardier Inc said on Tues­day that its share of a re­cently an­nounced deal to sup­ply 240 elec­tric lo­co­mo­tives to South Africa’s Transnet Freight Rail is worth $1.2 bil­lion at list prices.

The Cana­dian train and air­craft maker said it would pro­duce the lo­co­mo­tives in South Africa un­til the end of 2017, with first de­liv­ery ex­pected in April 2016.

The or­der is part of a $4.7 bil­lion con­tract to sup­ply 599 elec­tric and 465 diesel trains, awarded on March 17 to Bom­bardier, Gen­eral Elec­tric Co and China’s top two train mak­ers CSR Corp and China CNR Corp

The trains will mainly be used for the trans­porta­tion of gen­eral cargo. Transnet also moves coal, iron ore and other com­modi­ties to the coun­try’s ports an op­er­ates the coun­try’s main re­fined fuel pipe­lines.

“This land­mark or­der demon­strates how Bom­bardier Trans­porta­tion continues to grow lo­cal roots in key emerg­ing mar­kets such as South Africa,” said Lutz Bertling, the train unit’s chief op­er­at­ing of­fi­cer.

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