Siemens, Thales land €510m train line contract

Siemens, Thales land €510m train line contract
Photo of Spanish high-speed train: Shutterstock
The French and German industrial giants Thales and Siemens said on Monday they had won a contract worth more than €500 million to revamp safety systems on a high-speed train line in Spain.

"The order has a total value of around €510 million ($633 million) for the consortium," both companies said in a statement.

The two firms will modernize the control, signalling and safety equipment on the roughly 340-kilometre (211-mile) section of the high-speed line between Olmedo and Ourense in northern Spain.

The consortium is 55-percent owned by Thales with the remaining 45 percent held by Siemens.

A high-speed derailment on another section of this high-speed line in July 2013 caused 79 deaths on the outskirts of the northwestern city of Santiago de Compostela, Spain's deadliest train accident since 1944.

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