Bombardier Joint Venture Gets $761M Order
BERLIN (CP) -- The Chinese Ministry of Railways has ordered an 40 additional high-speed trains valued at US$761 million from a Bombardier Transportation joint venture.
Bombardier Inc. says its share of the contract is US$373 million.
Each of the new CRH1 eight-car trains can carry about 600 passengers at a maximum speed of 250 kilometres per hour.
Deliveries of the cars will begin in September and be completed by the end of May 2011.
With this additional order, a total of 1,280 CRH1 cars have been ordered from Bombardier Sifang in China.
Bombardier Sifang (Qingdao) Transportation Ltd. is a joint venture between Bombardier and CSR Sifang Rolling Stock Co. Ltd.
The order flows out of the largest single rail passenger order in Chinese history.
"This contract further demonstrates the high levels of confidence the Chinese Ministry of Railways places in Bombardier and BST," stated Stephane Rambaud Measson, president of Bombardier's passengers division.
The Chinese market represents a great opportunity to deliver innovative and highly reliable products as well as establish local roots, added Jianwei Zhang, president of Bombardier China.
"Today, Bombardier holds a top level presence in this exciting market and we are committed to continue supporting our customers in China."
Bombardier has three joint ventures in China that employ more than 4,000 people.
In addition to its rail operations, Montreal-based Bombardier Inc. is a major supplier of regional aircraft with 30 planes in operations with six airlines.