Wabtec Lands $277 Million Order from SimFer for Simandou Iron Ore Project

Wabtec Corporation (NYSE: WAB) has secured a substantial $277 million contract to supply Evolution Series ES43ACmi locomotives to SimFer, a strategic joint venture established by the Government of the Republic of Guinea, industry titans Rio Tinto, and Chalco Iron Ore Holdings (CIOH). This significant order underscores Wabtec's position as a leading provider of advanced rail solutions and will play a pivotal role in supporting the Simandou high-grade iron ore project's ambitious rail operations in eastern Guinea.

The ES43ACmi is an advanced dual-cab locomotive featuring a robust 4,500HP Evolution Series engine, renowned for its exceptional fuel efficiency and reliability. Designed to excel in demanding high-temperature environments, this locomotive adheres to stringent emission standards, meeting both UIC 3A and the U.S. Environmental Protection Agency's Tier 3 regulations. The ES43ACmi stands out with its superior performance, delivering optimal power while minimizing environmental impact. Its state-of-the-art technology ensures it operates effectively in various conditions, making it a leading choice for rail operators seeking efficiency, performance, and adherence to environmental standards in their fleet.

The Simandou mountain range, situated in the southeastern region of the Republic of Guinea, is home to the world's largest untapped deposit of high-grade iron ore, with an estimated reserve exceeding 2 billion tonnes. This immense resource holds the potential to transform Guinea’s economic landscape by providing substantial opportunities for growth and development. The exploitation of Simandou’s iron ore reserves is poised to drive significant advancements in infrastructure, create numerous job opportunities, and contribute to broader economic progress across the country. The development of Simandou represents a pivotal moment for Guinea, positioning it as a key player in the global iron ore market.

SimFer Managing Director Chris Aitchison highlighted the significance of the new partnership with Wabtec, describing it as a crucial milestone for the Simandou project. This collaboration advances the development of the TransGuinéen railway, an essential infrastructure project poised to drive economic growth across Guinea. Aitchison emphasized that this partnership not only strengthens the project's progress but also enhances the potential for regional economic development by providing critical transportation infrastructure that supports both local and national growth.

Chris added, emphasized the importance of their new partnership, stating that it aligns with their dedication to adhering to globally recognized environmental standards for the Simandou project. He highlighted that the partnership will introduce locomotives designed to achieve top-tier fuel efficiency and comply with international emission regulations. This initiative underscores SimFer’s commitment to both sustainability and operational excellence as they advance the development of the Simandou project.