Siemens gets ₹26,000-cr contract from Railways for 1,200 locomotives

Indian Railways has issued the Letter of Award (LoA) for manufacturing and maintenance of about 1,200 high-horsepower electric locomotives to Siemens. The locomotives will be manufactured over a period of 11 years, while the maintenance period will be 35 years. The estimated value of the contract is about ₹26,000 crore, excluding taxes and price variation, the government said.