Siemens to participate in Brazil’s high-speed project

Siemens AG is interested in participating in a tender auction to build a high-speed rail link between Rio de Janeiro and Sao Paulo.

Siemens’s participation in the tender auction “is going to depend on the exact structure of the tender and how it’s done,” Paulo Stark, chief executive of Siemens Brazil.

The company could either participate in the tender directly as part of a consortium, or to supply equipments to the winner. Siemens expects the first of a two-phase tender auction to be held before the end of 2012.

The government will then complete planning based on the winning technology and then accept bidding from builders who wish to execute construction of the railway, which will likely be operational only after 2019.

Source: www.4-traders.com

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