WASHINGTON (dpa-AFX) - Westinghouse Air Brake Technologies Corporation, largely known as Wabtec Corporation (WAB), Tuesday announced it has secured a $248 million deal with Winning Consortium Simandou - a Baowu and Winning joint venture, to supply Evolution Series ES43ACmi locomotives and services for their iron ore project in eastern Guinea.
This follows an earlier order from SimFer, a Rio Tinto joint venture, bringing the total project value to over $500 million-one of Wabtec's largest international locomotive agreements in five years.
The ES43ACmi is a dual-cab, 4,500HP locomotive powered by Wabtec's Evolution Series engine, designed for exceptional fuel efficiency and reliable performance in extreme, high-temperature environments like eastern Guinea. It meets UIC 3a and U.S. EPA Tier 3 emission standards. Locomotive deliveries for the Simandou project are set to begin in 2025.
The 600-km TransGuinean Railway is being built to link the Simandou mine with the Port of Morebaya. Located in southeastern Guinea, the Simandou mountain range holds the world's largest untapped reserve of high-grade iron ore. WCS is developing blocks #1 and #2 of the Simandou deposit, which are estimated to contain over 1.8 billion tonnes of reserves.
WAB is currently trading at $205.55 or 0.60% higher on the New York Stock Exchange.
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