Bombardier consortium wins $1.1B rail contract

Bombardier Inc.'s (BBD.B-T) train unit said the GoldLinQ consortium, of which is it a member, has been awarded a contract worth $1.1 billion US by Australia's Queensland government for the first stage of a rapid transit light rail project.

Bombardier Transportation's share of the contract is valued at about $265 million.

It will be an 18-year public private partnership and Bombardier will design, build, finance, operate and maintain the Gold Coast Rapid Transit public transportation system.

Bombardier, the world's largest train maker, said 16 stations are planned for the 13 km light rail corridor and passenger services are scheduled to start in 2014.