The Board of Directors of LA Metro has authorized the Chief Executive Officer to exercise an option (Option A) stipulated in the contract with Talgo Inc. for the company to overhaul the remaining 36 of the 74 newest heavy rail vehicles.
The value of the option will not exceed the amount of USD 18.27 million bringing the total contract value to USD 72.3 million. The CEO was also authorized to extend the period of performance of the contract for 10 months beyond the Base Order. The contract with Talgo from 2015 concerned the Heavy Rail Vehicle Overhaul and Critical Component Replacement Program (OCCRP).
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