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China : Midas JV wins US$92.7m Nanjing rail contract
Publish Date : 04-Sep-2012
Midas Holdings Ltd on Monday said its joint venture company, Nanjing SR Puzhen Rail Transport Co, Ltd (NPRT) together with consortium partner Shanghai ALSTOM Transport Electrical Equipment Co Ltd, has won an intercity rail project worth approximately 588 million yuan (US$92.71 million) from Nanjing Metro Co Ltd.
NPRT\'s share of the contract is approximately 76 per cent.
The contract is for the supply of 15 train sets or 90 train cars for the Nanjing- Gaochun Intercity Rail Project (Nanjing South Railway Station to Lukou Airport Section).
Delivery of the contract is targeted to take place from 2013 to 2014 and is expected to contribute positively to the group\'s financial performance, said Midas.
