06 February 2007, 15:30 pm

Ansaldo STS (Ticker: STS), through its Australian subsidiary Union Switch & Signal Pty. Ltd, has reached a major agreement with Rio Tinto, the mining industry giant listed on the London Stock Exchange (Ticker: RIO), for the construction of a new rail line in Australia.

The contract value is for more than Eur 15 million The new line, which will stretch 50 km when completed, is to be built in North-West Australia and will link a new ferrous minerals mine developed by Rio Tinto with the existing rail system.