French train manufacturer Alstom SA has secured a €2 billion (Rs 20.7 billion) contract from New York’s Metropolitan Transportation Authority (MTA) as part of the authority’s ongoing fleet modernisation efforts.

Alstom will supply M-9A railcars for the Long Island Rail Road and Metro-North Railroad, according to a statement released by the company on Friday.

Following the announcement, Alstom shares rose by as much as 1.4 per cent during early trading in Paris, valuing the company at approximately €8.9 billion. However, the stock remains down 11 per cent for the year.

The MTA approved the purchase last month for over 300 new railcars, with deliveries scheduled to commence in 2029. This capital investment forms part of a broader nearly $11 billion programme to introduce almost 2,000 modern carriages across New York’s commuter railway network, aiming to renew the trains and enhance reliability.

The new railcars will be manufactured in New York State and will feature modern amenities such as USB charging ports and automatic bathroom doors to improve accessibility across the lines.