Montreal-based Bombardier has made passenger, freight locomotives and other mass rail components in India since 1993.
As reported by Santanu Choudhury of Bloomberg News, Bombardier will bid to provide up to 600 locomotives that state-run India Railways plans to use to deliver freight across India. Bombardier will also bid on mass transit rail projects in cities including diamond trade center Mumbai as well as Chennai.
The Canadian company also has its eyes set on a contract to build a high-speed rail link between the city of Delhi and its airport. In addition, Indian Railways will need US$1 billion worth of systems and components for locomotives, high-speed trains and signalling equipment.
India wants to develop its transportation infrastructure to speed economic expansion, thus reducing poverty. Plans to spend over US$3 billion over the next five years on railway systems and supplies are good news for Bombardier.
China, India and Russia remain the company's fastest-growing markets, providing global growth engines for both Bombardier as the world's largest train manufacturer and as a stock (BBD.B on TSX).
