Alstom SA

Alstom is a French multinational corporation in the power generation and transport markets.

The company is involved in the light rail project in Jerusalem which connects the city of Jerusalem with the illegal settlements around it.

The company holds 80% of the EPC (engineering, procurement, and construction) contractor company for the project, and is the full owner of Citadis Israel, which has the contract for providing maintenance of the project for 22 years.

Alstom is the provider of trains in the project.

In June 2013, the company sold its 20% stake in Citypass (the company which won the tender to construct and operate the Jerusalem light train) to two other partners in the project: Israel Infrastructure Fund (IIF) and Harel Insurance Investments and Financial Services. However, Alstom continues to hold shares in EPC and Citadis Israel.

Economic Activism Highlights

Several banks and pension funds in Europe have ended their relationships with Alstom SA due to its role in building the Jerusalem light rail train that cuts through occupied Palestinian land.

  • In 2012, major Swedish pension funds AP1-4 began engaging with Alstom over its involvement with “the trains...that link western Jerusalem with the settlements...in the Israeli-occupied Palestinian territory.”
  • In 2012, Arizona State University’s student council voted unanimously to divest from Alstom, citing its complicity in “human rights abuses in the occupied Palestinian territories.”
  • In 2011, Nordea Bank began engaging with Alstom over its involvement in the Palestinian territories.
  • In 2010, Dutch pension giant PFZW opened a dialogue with Alstom about “human rights issues.”
  • In 2009, Swedish national pension fund AP7 and Dutch ASN Bank excluded Alstom due to its “involvement in Israel’s occupation of Palestinian land.”
  • Following a campaign launched by activists in 2009 to persuade Saudi Arabia to end its dealings with Alstom, the company lost a bid worth almost $10 billion to build a railway in the kingdom.
  • Dutch Triodos Bank announced in 2008 that they exclude “companies that contribute to the continuation of occupation, like Alstom.”

Stock symbols

EPA : ALO

Reasons included

Further information