- Westinghouse Air Brake Technologies Corp WAB or Wabtec signed contracts with Egyptian National Railways (ENR) to supply 100 ES30ACi Evolution Series Locomotives and a multi-year service agreement to maintain the fleet. The financial terms were not disclosed.
- The locomotive supply contract is funded by the European Bank for Reconstruction and Development.
- The agreement supports ENR's modernization effort by providing the latest, fuel-efficient locomotives needed for Egypt's rail infrastructure.
- The ES30ACi Locomotive is a double-cab locomotive equipped with a 12-cylinder, 3,300 horsepower Evolution Series engine, AC traction technology, individual axle control, and dynamic brakes. The company will deliver the locomotives to ENR in 2023.
- Price Action: WAB shares are trading higher by 2.92% at $96.96 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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