Suryaa Business Desk: A major business deal has been struck in the European railway infrastructure sector. Spain's national railway operator 'Renfe' (Renfe) has launched its new... A major business deal has been struck in the European railway infrastructure sector. Spain's national railway operator 'Renfe' has handed over the supply of its new high-speed trains to German industrial giant Siemens.
With a whopping value of around $1.36 billion (roughly over Rs 11,000 crore), the deal has gained prominence in the international transport and manufacturing sectors. Renfe has undertaken this massive project with the aim of modernizing the railway network across Spain, significantly reducing journey times and providing an environmentally friendly transport system. As part of this agreement, Siemens will design and supply high-speed train sets with the most advanced technology. Along with the supply of trains, Siemens will also oversee the necessary technical maintenance and spare parts support for the next decade.
At a time when the integration of transport networks across the European Union is accelerating, the mega contract bagged by Siemens further strengthens the company's order book. International experts from the transport sector are of the view that the introduction of these new trains with advanced safety standards, high speed and fuel efficiency will take the passenger experience to a whole new level in Spain.