Siemens and Siemens Rail Automation S.A.U Spain have jointly won an order worth Rs 2.87 billion, out of which Siemens share is Rs 1.46 billion (all inclusive).

Siemens is to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro i.e. the North-South and the East-West Corridors. The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-cars trains.

''Nagpur Metro will play a pivotal role in enhancing quality of life and economic growth of the city and the region. We are delighted to have won the NMRCL Signaling Contract. The Nagpur metro is a prestigious infrastructure project and we will deliver state-of-the-art technology that employs CBTC to maximize the network capacity while minimizing operational costs. Siemens' future ready signaling solution will provide the basis for an attractive, safe and efficient mass transit system which will satisfy the needs of both passengers and rail operators,'' said Tilak Raj Seth, Executive Vice President, Siemens and CEO, Mobility Division in Lead Country India.

Shares of the company declined Rs 2.5, or 0.21%, to settle at Rs 1,210.10. The total volume of shares traded was 21,853 at the BSE (Monday).