India on wheels: Bombardier plans to cash in on Railways FDI, eyes projects worth $7-8 billion

By Arijit Barman, ET Bureau

MUMBAI: With the Modi government opening up Indian railway infrastructure projects to foreign investments as part of its larger Make in India push, Canada’s transportation giant Bombardier is eyeing key projects worth at least $7-8 billion that will come up for grabs over the next 5-7 years.

In particular, it has zeroed in on projects in four of its core areas of expertise–high and semi-high speed trains, locomotives, signaling systems and integrated urban transit systems such as metro, light rail vehicles (trams) or monorail projects.

Bombardier, the world’s biggest maker of passenger trains, last month issued a profit warning on the back of weak demand and is aggressively seeking growth in Asia and Asia-Pacific economies.

The Montreal-based company, the world’s third largest commercial jet maker as well, is also planning to push its new short-haul commercial, C Series aircraft in India, said Pierre Beaudoin, Bombardier’s 52-year-old president and chief executive officer “as the market is coming out of its phase of turmoil and reorganization.” More info

Author: admin