GE, Alstom secure $5.6b Indian Railway contract for locomotives, deal marks first big foreign direct investment in rail sector

GE, Alstom secure $5.6b Indian Railway contract for locomotives, deal marks first big foreign direct investment in rail sector

The logo of General Electric is pictured at the 26th World Gas Conference in Paris, France, June 2, 2015. REUTERS/BENOIT TESSIER/FILES

General Electric and Alstom have won contracts worth a combined $5.6 billion to supply India’s railways with new locomotives, as the vast but dilapidated state-owned network looks to foreign companies to help it modernise.

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