“Veolia Transport, via its German subsidiary Veolia Verkehr, has won a major contract in Bavaria in the short-distance passenger transportation sector,” the company said in a statement.
It said operation of the three lines previously run by Deutsche Bahn for a period of 12 years starting from December 2013 will generate a cumulative revenue in excess of €1 billion ($1.3 billion).
The contract covers operation of three rail lines from Munich to the Bavarian town of Rosenheim and the Austrian cities of Salzburg and Kufstein. Germany is in the process of opening up its railways to competition.
“This is a great success,” Cyrille du Peloux, CEO of Veolia Transport, was quoted as saying in a statement. “New direct links will be put in place and the trains will be upgraded and made more comfortable.”