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Home >> Business
UPDATED: 14:27, October 10, 2004
France's Alstom, China ink $1.3b contracts
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French heavy engineering company Alstom has signed contracts in China worth up to one billion euro, or 1.3 billion US dollars, for the delivery of trains.

Alstom also inked a letter of intent to sell nearly 360 million euro's worth of hydroelectric turbines and pumping equipment to the Provinces of Hubei, Henan and Guangdong, China Radio International reported Sunday.

The deals were signed after Chinese President Hu Jintao welcomed visiting French President Jacques Chirac in Beijing.

Alstom says they will invest further in China despite a recent financial crisis that led to a 2.2-billion-euro bailout programme.

The French government now holds a 21 percent stake in the company.

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