1610 GMT - Siemens is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the German industrial group reported a more than $3 billion contract for locomotives and maintenance destined for India. The German company said Indian Railways' order for 1,200 electric locomotives was Siemens Mobility's largest-ever. The business unit will design, manufacture, commission and test the locomotives, and provide maintenance for 35 years, Siemens said, adding that the trains will be delivered over an 11-year period. The locomotives will be used for freight transport throughout the Indian Railways network and will be specified to haul 4,500 tones of goods at a maximum speed of 120 kilometers per hour. The use of these locomotives will help replace 500,000 to 800,000 trucks over the course of their lifecycle, Siemens Mobility said. Dow Jones & Co. owns Factiva. (pierre.betrand@wsj.com)

(END) Dow Jones Newswires

January 16, 2023 11:25 ET (16:25 GMT)

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