Newag with PLN 96 mln deal with PKP subsidiary

WSE-listed rolling stock producer Newag, signed a PLN 96.27 million deal with a unit of state railway group PKP to modernize 10 diesel locomotives, the company reported in a market filing. “The modernization will be carried out in accordance with the schedule agreed by the parties, and the entire contract will be completed by December 31, 2018. Estimated total value of the contract is PLN 96,267,900 net, which consists of PLN 95,288,000 net for modernization and PLN 987,900 net additional works not covered by the basic scope of modernization, which may arise after the delivery of the locomotives for modernization,” the filing said.