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FINWIRES

VinSpeed, Siemens Mobility Sign Up to 1 Billion Euro Vietnam High-Speed Rail Deal

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VinSpeed High-Speed Rail Investment and Development, and Siemens (NSE:SIEMENS, BOM:500550) unit Siemens Mobility signed a turnkey contract valued at up to 1 billion euros for two high-speed rail lines in Vietnam, Siemens announced Tuesday.

Under the deal, Siemens Mobility will supply 10 Velaro Novo trains for the 121-kilometer Hanoi-Quang Ninh line and 54-kilometer Ben Thanh-Can Gio line, along with communications and electrification systems.

VinSpeed High-Speed Rail Investment and Development will handle project development, track construction and civil works. The trains will feature Automatic Train Operation technology integrated with European Train Control System Level 2 signaling.

The contract will be executed in phases, Siemens said.

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