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Siemens eyes $7.5 billion rail deals in Mexico

Tuesday, October 22, 2013

Siemens AG plans to bid for all $7.47 billion in upcoming rail-engineering contracts in Mexico to reduce its dependence on its home European market.

The company will compete for contracts on passenger routes connecting Mexico City with Toluca and Querétaro as well as a tourist train on the Yucatan peninsula and a metro system in Guadalajara, said Louise Goeser, Siemens’ head of Mexico and Central American operations.

Whether the bids include rail cars “becomes more dependent on what cars they’re looking for," said Goeser.

Source: Businessweek