Midas Holdings (SIN:5EN) JV Won CNY474M China Metro Train Contract

Singapore-listed metal products group Midas Holdings Ltd. (SIN:5EN) Monday said its Sino-foreign joint venture, Nanjing SR Puzhen Rail Transport Co. (NPRT), was awarded a CNY474 million contract to supply metro train sets for the Suzhou Metro Line 1 Project in China.

NPRT will progressively deliver 25 metro train sets (1 train set = 4 metro train cars) for the project from the fourth quarter of 2010 to 2012. The contract is expected to have a positive impact on the group's financial results for the financial years ending 2010 to 2012.

Midas is a manufacturer of aluminium alloy extrusion products and polyethylene pipes, primarily for the transportation and infrastructure sectors in China. Midas has a 32.5 per cent equity stake in NPRT, which has secured metro projects in Shanghai, Nanjing, Shenzhen, Hangzhou and now Suzhou.


Related Companies

Midas Holdings Limited