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Alstom Set To Win $2.5 Billion U.S. Train Deal: Senator

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French transport group Alstom (ALSO.PA) is set to win a $2.5 billion contract to build the next generation of high-speed trains for U.S. rail operator Amtrak, U.S. Senator Charles E. Schumer said.

Alstom on Tuesday welcomed the news of the possible contract, which Schumer announced on Monday in a statement published on his website. Alstom did not make any comment about the negotiations or the type of trains.

The senator said the board of Amtrak was due to select Alstom for the contract on Tuesday, paving the way for exclusive negotiations on the final details of the deal.

The Amtrak board is “poised to give Amtrak management permission to move forward with negotiating a final contact with Alstom … with the goal of final approval by the end of December,” the senator said.