May 9, 2011 / 1:54 PM / 6 years ago

UPDATE 1-Bombardier to develop high-speed train parts with Siemens

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May 9 (Reuters) - Bombardier Transportation, the Berlin-based unit of Bombardier Inc (BBDb.TO), said it will partner with Siemens AG (SIEGn.DE) to develop and supply parts for up to 300 high-speed trains for German national rail operator Deutsche Bahn AG .

Montreal-based Bombardier, which is the world's largest passenger-train maker, said the initial order for 130 trains is worth 1.3 billion euro ($1.8 billion) to Bombardier.

Deutsche Bahn, Europe's biggest transport group by revenue, is planning to place an additional order of 90 trains with Siemens, Bombardier said in a statement.

The combined order for the 220 trains would be about 2.1 billion euro ($3 billion) to Bombardier.

The framework agreement between Siemens and Deutsche Bahn AG also includes an option for up to 80 additional trains that could be ordered at any time until 2030, Bombardier said.

Shares of Bombardier, which is also the world's No. 3 aircraft maker, were up 10 Canadian cents at C$6.77 on Monday morning on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

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