Midas Holdings JV secures 543m-yuan metro train car contract in China

MIDAS Holdings said its joint-venture company, CRRC Nanjing Puzhen Rail Transport Co (NPRT), has bagged a metro train car supply contract worth 543 million yuan (S$111 million) in China.

The supply contract was awarded by Shanghai Rail Transit Line Two Development Co for the Shanghai Metro Line 2 with delivery scheduled between January 2018 and November 2018.

The contract is expected to contribute positively to the group's financial performance for the 2018 financial year, it said in an announcement.

Midas owns a 32.5 per cent interest in NPRT, a Sino-foreign joint venture involved in the development, manufacture and sale of metro trains, bogies and their related parts.