Siemens wins $2 billion contract to build new London Tube trains

• Siemens will build 94 new generation trains for the Piccadilly Line on London's metropolitan train network known as the Tube.
• The contract is worth £1.5 billion ($2 billion).

Daily life is seen on the London Underground stations in London on September 29, 2017.

Alberto Pezzali | NurPhoto | Getty Images

Germany's Siemens has been awarded a contract worth about £1.5 billion ($2 billion) to design and build 94 new generation trains for the Piccadilly Line on London's metropolitan train network known as the Tube.

"The award of this contract is a significant step allowing Siemens Mobility Limited to progress its plan to build a new factory in Goole, East Yorkshire, to manufacture and commission trains," said Transport for London, the public body in charge of the Tube, in a statement.