Siemens will manufacture, design, and test the locomotives and commission them. Deliveries are planned over eleven years, and the contract includes 35 years of complete service maintenance. The locomotives will be assembled in the Indian Railways factory in Gujarat at Dahod, and maintenance will be performed in Indian Railways’ depots in Raipur, Visakhapatnam, Pune and Kharagpur. The estimated contract value of Rs 26,000 crore approx, excluding taxes and price variation.

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The company will be focused on infrastructure, industry, transmission, transport and generation of electrical power.

On a consolidated basis, the company’s net profit (from continuing operations) hit a high at 22.87% to Rs 392.2 crore on a 10.83% rise in revenue from continuing operations to Rs 4,236.7 crore in the July-September quarter of FY23 as compared with July-September quarter of FY22.

Yesterday, Siemens’s shares went down  0.81% to Rs 2,943.60.