Midas JV clinches train contracts worth 1.11b yuan

A JOINT-VENTURE company of Midas Holdings has won two metro train contracts worth 1.11 billion yuan (S$230 million).

The contracts, for the delivery of trains in the next two years, were awarded to Midas' 32.5 per cent-owned Nanjing SR Puzhen Rail Transport Co (NPRT).

Midas' chief executive officer Patrick Chew said in a statement yesterday that the contract wins "underscore the continued health of the PRC metro train sector".