Midas Holdings' associate company wins 1.28 billion yuan metro train contract
MIDAS Holdings' joint venture company, Nanjing SR Puzhen Rail Transport Co (NPRT), has landed a metro train contract worth about 1.28 billion yuan (S$278.7 million) for the Guiyang Rail Transit Line 1.
NPRT is a Sino-foreign joint venture, involved in the development, manufacture and sale of metro trains, bogies and their related parts. Midas has a 32.5 per cent stake in NPRT.
The project, which was awarded by Guiyang Urban Rail Transit Co, is scheduled for delivery between 2016 and 2017.
This contract is expected to contribute positively to the group's financial performance in FY16 and FY17.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade