Alstom shares surge in Paris following the agreement in Vietnam to supply trains for the Hanoi metro
The French group has signed an agreement with Vingroup for up to 83 five-car Metropolis trains and a technology licence to support the assembly of a further 117 trains
(Il Sole 24 Ore Radiocor) - Alstom is surging on the Paris Stock Exchange after signing a contract in Vietnam to supply rolling stock and a technology licence agreement for Metropolis trains destined for the Hanoi metro.
As stated in a press release, Alstom and the Vingroup group, through its subsidiary Vinhomes, have signed an agreement for the design, manufacture and supply of up to 83 five-car Metropolis trains, along with a technology licence to support the assembly of a further 117 trains in Vietnam, intended for urban rail transport projects in Hanoi. Alstom will design and manufacture the first 83 trainsets, whilst Vingroup will develop local production and assembly capabilities in Vietnam for the remaining trainsets. Vingroup, a diversified group, is the main contractor for the Hanoi metro projects through its subsidiary Vinhomes. Alstom will design and manufacture the trains in France, at its Valenciennes Petite-Forêt plant, its centre of expertise for metro systems. These will be new-generation five-car trains, offering advanced features in terms of design, operational efficiency and safety. The remaining 117 trains will be assembled by Vingroup in Vietnam using components supplied by Alstom.
The agreement was signed at Vingroup’s headquarters in Hanoi in the presence of Martin Sion, Alstom’s CEO, and Didier Le Bret, the French Ambassador to Vietnam, “to highlight the growing strategic cooperation between France and Vietnam in the fields of infrastructure, innovation and sustainable development”, a press release emphasises. “This agreement represents a milestone for Alstom in one of the world’s fastest-growing mobility markets. By combining Alstom’s global expertise with Vingroup’s industrial strength and long-term vision, we are creating a unique partnership that supports both the expansion of Hanoi’s metro network and the development of local rail infrastructure. This agreement also demonstrates the strength of French rail technology and reinforces Alstom’s position as a reliable partner for major mobility projects across the region,” said Alstom’s CEO, as quoted in the press release.
