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Siemens has signed a $3.25 billion contract with India to provide 1200 electric locomotives and service for 35 years, the largest deal in India's history. The locomotives, with 9000 horsepower and a top speed of 120 km/h, will be assembled in India over 11 years, with deliveries starting in 24 months. This deal will help in replacing 500,000 to 800,000 trucks over their life cycle. India aims to increase freight transport to 40-45% from the current 27%, providing an opportunity for Siemens to boost its revenue. This deal follows a similar one with Australia in December.
