You are here

Midas associate NPRT secures 2.1b yuan worth of metro, tram contracts in China

MAINBOARD-LISTED Midas Holdings on Monday said that its joint venture (JV) company Nanjing SR Puzhen Rail Transport (NPRT) has secured 2.1 billion yuan (S$455.7 million) worth of metro and tram contracts in China.

The first is a metro train supply contract - worth about 971 million yuan - awarded by Hefei Urban Rail Transit for the Hefei Rail Transit Line 2.

The second contract - worth about 808 million yuan - is awarded by Shanghai Rail Transit Line 8 Phase 3 Development to NPRT and its consortium partners for the Shanghai Metro Line 8 Phase 3.

The third - worth about 326 million yuan - is awarded by Suzhou New District Tramway for the Suzhou National New & Hi-tech Industrial Development Zone Tramline 2.

Delivery of the metro trains and trams is scheduled between 2016 and 2017 and the above-mentioned contracts are expected to contribute positively to the group's financial performance for FY2016 and FY2017, said Midas.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

Midas has a strategic 32.5 per cent stake in NPRT, an associate company engaged in the development, manufacturing and sale of metro trains, bogies and their related parts.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes