SIEGY - Siemens to supply 50 charger locomotives as part of $2B contract

Siemens Mobility (OTCPK:SIEGY) said on Thursday it received an order from Amtrak for 50 of its diesel-electric passenger locomotives, part of a $2B contract that includes a previous order of 75 locomotives that entered service earlier this year. The total contract value includes the original contract for $850M and includes both the manufacturing as well as a long-term service agreement for technical support, spare parts and material supply. Siemens (OTCPK:SIEGY) said the Charger Locomotive is the most energy-efficient Tier 4 passenger locomotive in the industry, reducing emissions of nitrogen oxide by 89% and particulate matter by 95% while consuming less fuel than the  1990s-era locomotives being retired. The locomotives are being manufactured at Siemens' (OTCPK:SIEGY) North American rail manufacturing facility in Sacramento, California. Siemens recently signed an $8.7B contract to develop a new high-speed rail line in Egypt.

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Siemens to supply 50 charger locomotives as part of $2B contract