Alstom India Ltd, a public listed local subsidiary of French conglomerate Alstom, is selling its transportation system unit to Alstom Transport India Ltd, a wholly owned arm of the French parent, for Rs 176.9 crore ($28.8 million), as per a stock market disclosure. Alstom India (formerly Alstom Projects India Ltd) is engaged in power and transport business where the latter largely covers traction, signalling and control systems for railways, particularly metro projects.
Transport unit is a small business for Alstom India, which generated just around 5 per cent of its overall revenues or over Rs 158 crore from the business unit in FY13. It was also a smaller contributor to the bottom-line with lower margins compared with its power business.
Alstom Group is a global leader in power generation and transmission besides rail infrastructure. The firm builds fast trains and high capacity automated metro and provides power plant solutions for energy sources like hydro, nuclear, gas, coal and wind.
A few weeks ago one of its other public listed arms Alstom T&D India Ltd sold a property in Bangalore to Tata Housing for Rs 120 crore.
(Edited by Joby Puthuparampil Johnson)
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