The Greenbrier Cos. Inc. and Saudi Railway Co. (SAR) last week announced they signed an agreement to both invest and generate investments totaling $270 million in Saudi Arabia’s rail industry. The companies plan to establish a joint venture to execute rail projects and supply rail cars in Saudi Arabia’s freight-rail market. Greenbrier and SAR aim to establish a multimodal business centered on creating and maximizing existing and new rail routes for freight movement throughout Saudi Arabia and, ultimately, the Gulf Cooperation Council region, according to a press release. Greenbrier also announced that in its fourth fiscal quarter ended Aug. 31, it generated revenue of $689.2 million and net earnings of $30.9 million. New rail-car deliveries totaled 6,000 units in the quarter, and the company’s backlog reached 27,400 units valued at $2.7 billion.
An Alstom-led Gibela joint venture recently inaugurated a train manufacturing facility in Dunnottar, South Africa. It is the largest and most advanced train manufacturing plant in Africa, Alstom officials said in a press release. The facility will produce a modern fleet of 580 six-car X’Trapolis Mega commuter trains over the next 10 years for the Passenger Rail Agency of South Africa, they said. The first train is expected to roll off the assembly line by 2018’s end.
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