13 Dec 2018 07:55 ET
07:55 AM EST, 12/13/2018 (MT Newswires) -- Bombardier Sifang (Qingdao) Transportation Ltd. (BST), a joint venture of global mobility solution provider Bombardier Transportation (BBD-B.TO), said Thursday it has won a second contract this year to support China's evolving high-speed rail network. According to a statement, the new contract, awarded by China Railway Corp. (CRC), is to supply 168 CR400AF new Chinese standard high-speed train cars and is valued at approximately 3.1 billion CNY (US$453 million, 399 million euro). Bombardier Transportation owns 50% of the shares in BST, which is consolidated by partner CRRC Sifang Co., Ltd. The 168 cars will be configured into fifteen 8-car trainsets and three 16-car trainsets with an operating speed of 350 km/h. Wednesday, Bombardier won a US$669.1 million deal to supply rail cars for New Jersey Transit. Indeed, that contract could rise in value to US$3.6 billion based on options for additional equipment. But Bombardier also lost out on a near US$1 billion deal to provide locomotives and passenger cars to Canada's Via Rail, which awarded the business instead to Siemens AG. Price: 2.2500, Change: +0.0700, Percent Change: +3.21 |