GE wins $2.6b contract for 1000 locomotives in India; deal marks first big foreign direct investment in rail sector

GE wins $2.6b contract for 1000 locomotives in India; deal marks first big foreign direct investment in rail sector

Parked passengers trains are seen at a railway station in Mumbai, India, October 22, 2015. REUTERS/Shailesh Andrade

General Electric Co has won a $2.6 billion contract to supply India’s railways with 1000 diesel locomotives, as the state-owned network looks to foreign capital to help it modernize.

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