France's Veolia wins German train routes
The French engineering group Veolia said Wednesday that it had won a contract to operate three passenger train lines in Germany worth more than one billion euros over 12 years.
"Veolia Transport, via its German subsidiary Veolia Verkehr, has won a major contract in Bavaria in the short-distance passenger transportation sector," the company said in a statement.
It said operation of the three lines previously run by Deutsche Bahn for a period of 12 years starting from December 2013 will generate a cumulative revenue in excess of one billion euros (1.3 billion dollars).
The contract covers operation of three rail lines from Munich to the Bavarian town of Rosenheim and the Austrian cities of Salzbourg and Kufstein.
Germany is in the process of opening up its railways to competition.
"This is a great success!" Cyrille du Peloux, CEO of Veolia Transport, was quoted as saying in a statement. "New direct links will be put in place and the trains will be upgraded and made more comfortable."
© 2010 AFP