Shares in Downer EDI Limited (ASX:DOW) rose after the engineering company said its 50:50 joint venture with Bombardier Transportation Australia had secured a contract for the supply of passenger rail cars.
Western Australia's Public Transport Authority has awarded the $160 million contract to the JV, of which Downer’s says its share is in excess of $80 million.
Downer Bombardier will supply 15, three car, single-deck electric trains to grow the Public Transport Authority’s existing B Series fleet.
The trains will be manufactured at Downer's facility in Maryborough in Queensland and due to be delivered progressively from September 2013.
Yesterday shares in Downer rose 4.67 per cent to close at $3.81.
In the first half of the 2011 financial year, Downer EDI reported a net loss of $103.8 million.
DOW Price at posting:
$3.81 Sentiment: None Disclosure: Held
