GE Lands Billion-Dollar Deal to Modernize India’s Railways [View all]
Source: WSJ
General Electric Co. said Monday it had won a bid for a $2.6 billion deal with India’s state-owned rail company to supply and service 1,000 diesel locomotives as the country works to improve its infrastructure and boost manufacturing.
The locomotive agreement is GE’s largest-ever deal in India and the biggest contract ever won by its transportation unit, which primarily makes railroad equipment and systems, but also some mining equipment and marine engines.
"It is really significant for us," said Jamie Miller, the CEO of GE Transportation, in an interview Monday.
The deal also represents progress for the Indian government’s "Make in India" program, which is aimed at turning India into an industrial powerhouse. The country last year opened some types of railway businesses to foreign investment.
Read more: http://blogs.wsj.com/indiarealtime/2015/11/10/ge-lands-billion-dollar-deal-to-modernize-indias-railways/
= new reply since forum marked as read
