NATIONAL Express has been awarded a €1bn (£878m) contract to operate two regional train lines in the German state of North Rhine-Westphalia.

The transport group's German rail business has won a €1bn contract to run the RE1 and RE11 Rhein-Ruhr-Express lines until 2033.

The Rhein-Ruhr-Express is a regional rail network in north west Germany, in the state of North Rhine-Westphalia on the border with Belgium and the Netherlands.

National Express Rail GmbH's new €1bn contract comes after the firm took over the German rail lines last February through an emergency contract award.

First established as a nationalised bus company in Britain, National Express has over the past five decades expanded to evolve as an international transport conglomerate.

The Birmingham-headquartered business floated on the London Stock Exchange in 1992 before expanding through mergers and acquisitions.

The firm took over its first Rhein-Ruhr-Express contract in June 2019 and now operates seven lines in the system.

Following the award of the new contract, National Express now operates all three asset light Rhein-Ruhr-Express lots under long term contacts, the firm said.

Ignacio Garat, group chief executive at National Express, said: "To have secured this contract on the back of an emergency contract award is testament to our operational excellence and the strength of our proposition in Germany."

Investors took well to the news, with shares rising on the announcement and closing up four per cent yesterday.

(c) 2023 City A.M., source Newspaper