3rd Sep 2014 12:09
LONDON (Alliance News) - Stagecoach Group PLC said Wednesday that South West Trains is set to place a GBP210 million order for new trains to boost capacity on its network, including a contract for 150 new train carriages with Siemens AG and leasing company Angel Trains Ltd.
Thirty new five-carriage Desiro City trains will provide for more than 18,000 extra peak-time passengers travelling into London Waterloo, the company said, and will also allow a further 6,00 daily peak time passengers once infrastructure upgrades are complete on the mainline and Hounslow loop.
Formal completion of the contract award is subject to a standard standstill period, it said.
The first of the new carriages will begin arriving in 2017, and it expects all to be in operation by early 2018. It will conduct "major infrastructure improvements" at London Waterloo to allow for the introduction of the new trains.
South West Trains is also continuing to roll-out is GBP65 million investment in 108 additional refurbished carriages for the network. It is aiming to increase total peak-time capacity by around 30% by 2018.
Shares in Stagecoach were trading up 0.8% at 367.80 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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