February 23, 2018 / 2:41 PM / a month ago

GE signs $1 billion deal with Ukraine to supply freight locomotives

(Reuters) - General Electric Co’s (GE.N) transportation unit said on Friday it signed a $1 billion (715.36 million pounds) deal to supply 30 freight locomotives to Ukrainian Railways.

FILE PHOTO - The logo of General Electric Co. is pictured at the Global Operations Center in San Pedro Garza Garcia, neighbouring Monterrey, Mexico, on May 12, 2017. REUTERS/Daniel Becerril

    Under the agreement, the unit will also supply additional locomotive kits over 10 years, rehabilitate locomotives in the railway’s legacy fleet and provide long-term maintenance services.

    Production is expected to begin in the United States in early 2018, with the first deliveries slated for this fall, the company said.

    Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D'Silva

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