Bombardier completes Singapore metro deal valued at $607mn
The Montreal-based company, Bombardier Transportation, has announced it has completed a deal worth $607mn deal and will produce 396 new metro trains in Singapore, Montreal Gazette reports.
On Thursday (26 July), the firm announced that the contract includes the opportunity for a long-term maintenance service which could potentially see the value rise to $881mn.
The new Movia metro cars will operate on Singapore’s Mass Rapid Transit system, which currently serves approximately 1.8mn passengers a day in 61 different stations over 102km of track.
The trains will be on two lines of the system and it is anticipated that once implemented, there will be a total of 672 Movia cars.
- Air Canada-led group launches £2.25bn bid to purchase Aimia’s Aeroplan business
- Calvin McDonald announced as new CEO of Lululemon
- New President and CEO to take over at Aecon
Once the project is completed, the transportation giant announced it will become one of the biggest line-ups of Bombardier metro cars in the world.
Bombardier also revealed that it will be working with France-based service group, Engie, to carry out production maintenance for its transportation’s industrial facilities.
The deal is set to be worth US$290mn and the two companies have agreed a five-year contract.
It is hoped that this partnership will enable Bombardier to put a greater emphasis on its core business and help to improve its efficiency.
- Top 10 CEOs at the helm of Canada’s biggest companiesLeadership & Strategy
- Top 10 sustainable companies in the US and CanadaSustainability
- Coinbase in Canada: Providing citizens with simpler cryptoCorporate Finance
- US & Canada key markets for airline service leader SwissportLeadership & Strategy