Adam Sage reports that the French government has been heavily criticised for investing 700 million Euros to save a train factory from closure.
Nearly 500 jobs at Alstom's plant near Belfort, which had been scheduled to close due to a lack of orders, have now been safeguarded following an order for 15 double-decker high speed trains, that cost 30 million Euros each.
The deal has been branded as poor value for money as the trains are designed to run at 320kph on high-speed lines, but will instead run at just 200kph on conventional tracks, where lower speed and cheaper intercity rolling stock has been previously used.
The French government has a 20% stake in the company.
- We've read it in: The Times, October 5, p51
