China spends billions on high-speed rail

Siemens’ contract to supply China with 60 high-speed locomotives might herald billions of dollars of orders for global engineering companies, economists have said.

Siemens, Germany’s largest engineering company, will make three trains that run at top speeds of 300km an hour and help Tangshan Locomotive & Rolling Stock build the remaining 57 locomotives in a E669 million (R5.3 billion) contract.

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