Siemens (NYSE: SI; XETRA: SIE) yesterday announced through its Israeli subsidiary its intention of competing in the tender for the electrification of Israel Railways.
Siemens Israel managing director Oren Ahronson made the announcement during a Siemens seminar on railway electrification for Israel specialists, conduction in cooperation with the Association of Engineers, Architects and Graduates of the Technological Sciences in Israel. Senior Israel Railways and Israel Electric Corporation officials, contractors, and leading planning and supervision agency officials also attended the meeting.
Dr. Albrecht Brodkorb of Siemens Transportation Systems said that electrification would halve the cost of running the railway. He cited more efficient exploitation of energy with electricity, compared with the fuel used for locomotives in Israel.
Brodkorb added that electricity would reduce the air pollution and noise caused by diesel-powered locomotives, increase train speed, and improve response times.
Siemens Transportation Systems is the world’s second largest company in the field, with an annual sales turnover of €4.3 billion.
Siemens is also involved in Israel’s light railway project.
Published by Globes [online] - www.globes.co.il - on December 16, 2003