Alstom to sign 1 billion Euro in contracts with China

BEIJING (AFP) - The French Group Alstom will sign contracts worth up to 1 billion Euros (1.23 billion dollars) in China for the delivery of trains and locomotives, French sources with knowledge of the deal revealed to AFP.
"A formal announcement will be made after the two presidents meet," the source said of talks between Chinese President Hu Jintao and visiting French President Jacques Chirac.
One contract valued at 620 million Euros was for the delivery of 60 regional trains, to be built in China, capable of reaching speeds of up to 200 kilometers an hour (120 miles an hour), the source said.