Siemens and VinSpeed Sign Vietnam Rail Deal
Siemens Mobility and VinSpeed signed a turnkey contract worth up to one billion euros to jointly develop high-speed rail connections in Vietnam. Siemens will deliver trains while VinSpeed builds tracks for routes linking major regions.
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Siemens Mobility and VinSpeed signed a turnkey contract worth up to €1 billion ($1.15 billion) on Tuesday morning to develop high-speed rail connections in Vietnam. The agreement expands an existing partnership between Siemens AG and the Vietnamese venture. The project was established by billionaire and Vingroup JSC Chairman Pham Nhat Vuong.
