A new maintenance depot is to be built in Northampton to service the latest high-speed trains which will soon carry passengers on the West Coast Main Line.
The new trains should be in service by the end of June 2005
The deal, involving Siemens, Angel Trains and National Express, will create 100 jobs in the town.
Siemens has signed a 20-year contract to maintain 30 Desiro trains which are due to go into service next year.
The Siemens-made trains will be used on Central Trains and Silverlink services from Northampton, London and Liverpool.
The maintenance agreement will also allow existing facilities at Crewe to be upgraded.
Philip Cameron, from National Express, said the new Desiro trains have been well received on One services in East Anglia and should be operating on Central Trains and Silverlink routes in June 2005.
The trains will have air conditioning, advanced passenger information systems, CCTV and dedicated facilities for disabled passengers.
Testing of the trains on the West Coast Main Line is to begin in the autumn.