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Tech & Science Bahn wants to invest more than 1.4 billion euros in plants

07:50  14 february  2021
07:50  14 february  2021 Source:   pressfrom.com

Deutsche Bank posted its first annual profit since 2014 as volatile markets helped its investment bank boom

  Deutsche Bank posted its first annual profit since 2014 as volatile markets helped its investment bank boom Deutsche Bank posted its first annual profit since 2014. Revenues at its investment bank jumped 32% year on year. Volatile markets have helped the big lenders profit despite shrinking economies. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Deutsche Bank posted a full-year profit for the first time since 2014 last year, its fourth-quarter earnings showed on Thursday, as Germany's biggest lender capitalised on the trading boom of 2020. Deutsche posted a profit attributable to shareholders of 113 million euros ($US136 million) in the year to the end of December. That was up from a loss of 5.

In the coming years, Deutsche Bahn plans to invest more than 1.4 billion euros in the expansion of storage facilities and plants for operational maintenance in Germany.

Das Logo der Deutschen Bahn prangt auf einem ICE. © Silas Stein / dpa / Symbolbild / Archiv The Deutsche Bahn logo is emblazoned on an ICE.

“The quality is made in the infrastructure and in the factories,” said Berthold Huber, the board member for passenger transport, of the German press agency. “That's why we said that first of all we want to invest in more vehicles and in new vehicles. But then we also need significantly more maintenance capacities. "

At a total of eleven locations in Germany and Switzerland, capacities are to be expanded for so-called light maintenance. This involves maintenance close to operation in order to make the trains fit again within a few hours for operation the next day or to prepare new vehicles for initial operation.

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Deutsche Bahn is investing the largest share with 400 million euros in Nuremberg, where a completely new maintenance facility is to be built by 2028. “Nuremberg is very suitable for us geographically and in terms of circulation,” said Huber. "That's why we want to build a new plant there." The parking facilities there will also be expanded for a further 20 million euros.

More than 270 million euros will flow into the expansion of maintenance capacities to Berlin by 2026, and around 225 million euros to Frankfurt / Main by 2030. "We now want to do everything we can to ensure that people find out after the pandemic: traveling by train is much smarter than getting back in the car," said Huber. "In order to maintain new vehicles, we also have to adapt and convert some plants." In addition, Deutsche Bahn intends to hire more than 1,000 additional employees for the plants in the coming years.

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Currently, Deutsche Bahn expects a new ICE-4 train from Siemens every three weeks. Around 75 of the trains are to be delivered by summer, with a total of 137 by 2025. In the summer of last year, Deutsche Bahn also ordered 30 new ICE-3 trains from the Munich technology group Siemens for one billion euros. The first should be on the way at the end of 2022.

In addition to operational maintenance, Deutsche Bahn also invests in heavy maintenance. The trains are maintained much more thoroughly over several weeks in order to prepare them for the TÜV, for example. The most prominent construction site will be the new maintenance facility in Cottbus, in which the federal government and the railways are investing around one billion euros. A new ICE hall for heavy maintenance of the ICE 4 is planned at the location of today's Cottbus railway works. Around 1100 new jobs and 100 training positions are to be created there by 2026.

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