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Midas Holdings Ltd JV unit wins three metro train contracts


Wednesday, 4 Jun 2014 06:44am EDT 

Midas Holdings Ltd:Says its joint venture company, Nanjing SR Puzhen Rail Transport Co., Ltd (NPRT) has secured three metro train contracts worth a combined 3.5 bln yuan.First contract, worth about 1.5 bln yuan, was awarded by Suzhou Rail Transit Co., Ltd for the Suzhou Rail Transit Line 4 and branch procurement contract, with delivery slated between 2015 and 2017.Second contract, worth about 0.9 bln yuan, was awarded by Hefei Urban Rail Transit Co., Ltd for the Hefei Rail Transit Line 1 phases 1 and 2, with delivery slated from 2015 to 2016.Third contract, worth about 1.1 bln yuan, was awarded by Hangzhou Metro Group Co., Ltd. for the Hangzhou Metro Line 4 phase 1 stock procurement contract, with delivery slated from 2014 to 2017.These three contracts are expected to contribute positively to the Group’s financial performance for the 2014 to 2017 financial years.Says Midas has a 32.5 pct equity stake in NPRT. 

Company Quote

0.24
-0.01 -4.00%
19 Dec 2014