Siemens bags multi-million Indian rail contract
10 May 2005, NEW DELHI - India's Siemens Ltd., in a consortium with its German parent firm Siemens AG, has won a USD 212 million (EUR 165 million) project for improving the local train system in India's commercial hub Bombay, it was announced on Tuesday.
10 May 2005
NEW DELHI - India's Siemens Ltd., in a consortium with its German parent firm Siemens AG, has won a USD 212 million (EUR 165 million) project for improving the local train system in India's commercial hub Bombay, it was announced on Tuesday.
The contract for propulsion systems and electrical equipment for about 100 trains will be executed over four years, Siemens said in a press release.
Siemens' systems will be adapted to the local environment and climatic conditions and fitted on coaches built at the state-run coach factory in the southern Indian town of Madras, the release added.
The state-run Mumbai Railway Vikas Corporation (MRVC) has undertaken a 10-year upgrade project to improve the suburban rail network that carries an average of 6 million passengers daily and is known as the lifeline of Bombay.
The network is overloaded with trains with a capacity of only 1,800 people packing 4,500 commuters each way, said MRVC official S.K. Garg. "And the city's population is expanding every day," he added.
Even after the current phase of upgrade at a cost of USD 690 million (EUR 536 million) is completed in 2008, the pressure of trains would ease only by 30 percent, he said. The World Bank is providing about half the funding.
"The supply of modern equipment will help ease the congestion, increase capacity and enhance the comfort of passengers," Siemens Ltd. managing director J. Schubert said in a statement.
He said Siemens Ltd. was augmenting capacities at its factories in India where the state-of-the-art equipment would be manufactured. "This enhancement will create additional employment opportunities, having a long-term impact," he said.
Siemens Ltd. is a flagship company of the Siemens Group in India which is a leading provider of industry and infrastructure solutions. It has an aggregate business volume of about USD 1.2 billion (EUR 0.93 billion).
Subject: German news