Siemens to supply trains to Vietnam
October 11, 2004
Hanoi - German engineering giant Siemens has won a €46 million (R373.9 million) contract to supply 16 diesel-electric locomotives to state-owned Vietnam Railways, a company official said Monday.
Nguyen Quoc Hung, a spokesman for Siemens in Hanoi, said the deal was signed Saturday during German Chancellor Gerhard Schroeder's visit to Vietnam for a summit of European and Asian leaders.
Vietnam Railways said the locomotives would be used for freight and passenger services between Hanoi and the southern business capital of Ho Chi Minh City.
Siemens is also hoping to play a lead role in the construction of two subway lines in Ho Chi Minh City to relieve chronic traffic congestion in the communist nation's largest metropolis.
In May last year the company signed a memorandum of understanding with city authorities expressing its interest in the project, which is estimated to cost more than $800 million. - AFP
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