Deutsche Bahn to buy 30 Siemens trains for one billion euros


German state-owned rail operator Deutsche Bahn has agreed to buy 30 high-speed trains from Siemens (SIEGn.DE) for around 1 billion euros ($1.13 billion), company sources told Reuters on Monday.

A member of the supervisory board told Reuters that the board has approved the investment to buy 30 Velaro trains which can reach speeds of up to 350 kilometres per hour.

The investment is part of the rail group’s strategy to double its number of long-distance passengers by 2030 and to connect more cities to the high-speed network.

A spokesman for Deutsche Bahn did not want to comment, but said a news conference was planned on Wednesday.

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