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Bombardier signs deal to sell locomotives to Israeli Railways

BERLIN — Bombardier Transportation (TSX:BBD.B) has signed a contract to provide 62 locomotives to Israel Railways.

Based on the list price, the contract is worth about $340 million, and includes an option for an additional 32 locomotives.

The Berlin-based branch of Bombardier Inc., says the TRAXX locomotives will be mainly used to power Israel's fleet of 369 Bombardier double deck coaches currently in use.

The first deliveries are planned for the end of 2017.

"The Israel Railways electrification project is advancing and becoming a reality," said Israel Railways CEO Boaz Tzafrir.

"The transition to electric operation, a standard practice in all advanced countries, will be a significant leap forward."

Bombardier says the contract was signed on Sept. 20 and will be recorded in its third quarter results.

The Canadian Press

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