ALSMY - Alstom scores $1.2B railway contract in the Philippines

2023-03-06 15:53:47 ET

Alstom ( OTCPK:ALSMY ) ( OTCPK:AOMFF ) said Monday it was awarded a contract by Mitsubishi to provide an integrated railway system for the extension of the North-South Commuter Railway project in the Philippines, with the share of the contract attributable to the French company amounting to €1.1B (~$1.17B).

Alstom ( OTCPK:ALSMY ) ( OTCPK:AOMFF ) said it will be responsible for system integration, signaling and telecommunication, power supply, automated fare collection system, platform doors, maintenance systems and depot equipment, as well as control centre and training; it will deploy a European Rail Traffic Management System level 2 signaling system for the first time in Southeast Asia.

The company said the extension project involves 27 new stations spanning 110 km, due for completion by 2029.

Alstom ( OTCPK:ALSMY ) ( OTCPK:AOMFF ) is not a massive yielder but is "a long-term and timeless investment," Wolf Report wrote in an analysis published late last year on Seeking Alpha .

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