GE: signs 900 million dollar locomotive deal with Kazakhstan
(CercleFinance.com) - General Electric has signed two contracts to sell about 900 million dollars of locomotives and services to Kazakhstan's state-run railroad KTZ, the company's largest international rail customer.
The deal - part of a long-term commitment to develop the country's railway infrastructure - includes the delivery of 300 shunter locomotives and an 18-year service agreement to manage the maintenance and repair of 175 passenger locomotives.
The first two shunters are scheduled for delivery in 2019, with the remainder delivered over the next 10 years.
The news actually didn't prevent the GE stock from falling further on Wednesday, after the shocking charge announced yesterday by GE Capital. GE shares are currently down 4% after falling 3% on Tuesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The deal - part of a long-term commitment to develop the country's railway infrastructure - includes the delivery of 300 shunter locomotives and an 18-year service agreement to manage the maintenance and repair of 175 passenger locomotives.
The first two shunters are scheduled for delivery in 2019, with the remainder delivered over the next 10 years.
The news actually didn't prevent the GE stock from falling further on Wednesday, after the shocking charge announced yesterday by GE Capital. GE shares are currently down 4% after falling 3% on Tuesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.