Company managing tranvia project could be in trouble

May 5, 2014

The French engineering firm Alstom has been told by the French government to stop negotiations with U.S.-based General Electric to buy part of its operations.

Alstom, which has the contract to manage construction of Cuenca’s Tranvia de los Cuatros Rios light rail project, has been reported to be in financial difficulty since late 2013 and had negotiated a $17 billion deal with General Electric to buy its power turbine business.

The French Industry Ministry says it wants to examine the deal before it can go forward.