By Anthony Shevlin 
 

Siemens AG (SIE.XE) said Friday that Siemens Mobility, a separately managed company of Siemens, signed a framework agreement with Austrian rail operator OBB AG for passenger coaches in Austria.

Siemens said the order is valued at more than 1.5 billion euros ($1.7 billion) and is for eight day trains and 12 night trains. The first trains will enter service in 2022, the company said.

The framework agreement can be extended beyond 2023 by OBB, said Siemens.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

August 17, 2018 06:02 ET (10:02 GMT)