WILMINGTON, United States: US rail operator Amtrak on Friday awarded a $2.0 billion (1.8 billion euros) deal to French manufacturer Alstom to supply new trains for its key Acela service between Washington, New York and Boston.
The landmark deal for 28 new passenger trains will boost Amtrak’s speed and capacity along its most heavily used and profitable route, with more than 3.5 million passengers a year, from 2021.
The trains will carry more than 400 passengers, about one-third more than the existing Acela northeastern corridor express service, with a maximum speed of 300 kilometers per hour, though normal speeds will hover near 260 kilometers an hour.
In the deal Alstom, which makes France’s famed TGV trains, agreed to manufacture most of the new equipment for Amtrak, dubbed its Avelia Liberty line, at its plant in Hornell, New York.
The new trains, which will also serve Baltimore, Philadelphia and other key cities on the 730 kilometer route, will be able to run faster than current trains in part due to the use of Alstom’s Tiltronix system allowing the trains to lean more deeply into curves, avoiding sharp slowdowns.
“Amtrak is taking the necessary actions to keep our customers, the Northeast region and the American economy moving forward,” said Amtrak President and CEO Joe Boardman.
“These trainsets and the modernization and improvement of infrastructure will provide our customers with the mobility and experience of the future,” he said.
US Vice President Joe Biden, a strong advocate of high speed rail, said at a ceremony that strengthening the Acela service is crucial as it serves one of the most densely populated and economically important regions of the country.
“This area from Boston to Washington is home to one out of every seven Americans,” he said, calling the northeast corridor “fundamentally important” to the economy.
Amtrak and Alstom said prototypes for the new trainsets will be ready in 2019, and enter commercial service two years later.
The revamp of the Acela fleet will also be matched by upgrades to stations and the rail line, Amtrak said.
Alstom’s senior vice president for North America, Jerome Wallut, called the new trains the “most advanced, reliable and safest” in the world.
The trains will consume significantly less energy than those already in existence, according to the company, and emit far less pollutants per passenger than aircraft.
“Avelia Liberty will not only provide premium passenger experience but will also provide greater energy efficiency and lower lifecycle costs,” Wallut said.
High-speed trains: Alstom wins $2bn deal from Amtrak
High-speed trains: Alstom wins $2bn deal from Amtrak
Saudi Arabia opens 3rd round of Exploration Empowerment Program
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has opened applications for the third round of the Exploration Empowerment Program, part of ongoing efforts to accelerate mineral exploration in the Kingdom, reduce early-stage investment risks, and attract high-quality investment from local and international mining companies.
The third round of the Exploration Empowerment Program offers a comprehensive support package targeting exploration companies and mineral prospecting license holders.
The initiative aims to lower investment risks for projects and support a faster transition from prospecting to development.
"The program provides coverage of up to 70 percent of the total salaries of Saudi technical staff, such as geologists, during the first two years, increasing to 100 percent thereafter, in line with program requirements.
This support aims to develop talent, build national capabilities in mineral exploration, promote job localization, and facilitate the transfer of geological knowledge.
The application for the third round opened on Jan. 14, allowing participants to benefit from the Kingdom’s attractive investment environment, its stable legal framework, and streamlined regulatory structures, as well as integrated infrastructure that supports the transition from mineral resources to operational mines.
The ministry has set the timeline for the third round, with the application period running from Jan. 14 to March 31.
This will be followed by the evaluation, approval, and signing of agreements from April 1 to May 31, with the eligible projects set to be announced between June 1 and July 31 of the same year.
The program stages include submitting exploration data during the reimbursement and payment phase from Sept. 1 to Nov. 30, followed by technical and financial verification of work programs and approval of the disbursement of support funds in January 2027.
The exploration data will then be published on the National Geological Database in April 2027.
The ministry emphasized that the EEP focuses on supporting the exploration of strategically important minerals with national priority. It also contributes to enhancing geological knowledge by providing up-to-date data that meets international standards, helping investors make informed decisions and supporting the growth of national companies and local supply chains.
The ministry urged companies to apply early to benefit from the program’s third round, which coincided with the fifth edition of the International Mining Conference, which was held from Jan. 13 to 15.
