16th Jun 2015 13:13
LONDON (Alliance News) - National Express Group PLC said Tuesday it has won two new rail contracts with local transport authorities in the North Rhine-Westphalia region in Germany.
The two contracts are expected to generate around EUR1 billion over their lifetimes.
The contracts are two of three covering the Rhine-Ruhr Express services operating between cities including Cologne, Düsseldorf and Dortmund. National Express says its services will carry around 30 million passengers a year.
The first contract will begin in December 2018, the second in December 2020, and both will run until December 2033.
"National Express is delighted with this further success in German rail. It strengthens our presence in the North Rhine-Westphalia region, where we begin operating our first contracts later this year," said Chief Executive Dean Finch in a statement.
Shares in National Express are trading up 1.6% at 313.07 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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