CSR Corporation Limited (the “Company”) has recently entered into certain major contracts, with an aggregate value of approximately RMB 27.4 billion. Details of such
contracts are set out below:
1. CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd., a non-wholly-owned subsidiary of the Company, has entered into contracts with certain railway bureaus under China Railway Corporation in relation to the sale of MUs with a value of approximately RMB 25.63 billion.
2. Nanjing SR Puzhen Rail Transport Co., Ltd., a non-wholly-owned subsidiary of the Company, has entered into contracts with Nanjing Metro Co., Ltd. and Suzhou Metro Group Co., Ltd., respectively, in relation to the sale of metro cars with an aggregate value of approximately RMB 1.11 billion.
3. CSR Yangtze Rolling Stock Co., Ltd., CSR Erqi Co., Ltd., and CSR Shijiazhuang Rolling Stock Co., Ltd., all wholly-owned subsidiaries of the Company, have respectively entered into contracts with China Railway Investment Corp. (中國鐵路建 設投資公司) in relation to the overhauling of freight wagons with an aggregate value of approximately RMB 0.66 billion.
MIDAS’ JV UNIT KICKS OFF 2014 WITH ORDERS WORTH RMB1.11 BILLION
- First contract worth RMB520 million to supply 85 train cars for the
Suzhou Rail Transit Line 2 Extension
- Second contract worth RMB590 million to supply 78 additional train cars
for Nanjing Metro Line 1
Singapore & Hong Kong, January 6, 2014 – Midas Holdings Limited (麦达斯控股
有限公司) (“Midas” or the “Company”, together with its subsidiaries, the “Group”;SGX-ST stock code: 5EN; SEHK stock code: 1021) is starting 2014 on a strong note:its joint venture company, Nanjing SR Puzhen Rail Transport Co., Ltd. (“NPRT”) (南 京南车浦镇城轨车辆有限责任公司) has secured two contracts worth a total of RMB1.11 billion.
The first contract was awarded by Suzhou Rail Transit Co., Ltd. (苏州市轨道交通集 团有限公司) for the supply of 17 train sets (1 train set = 5 train cars), or 85 train cars,for the Suzhou Rail Transit Line 2 Extension, while the second contract was awarded by Nanjing Metro Co., Ltd. (南京地铁集团有限公司) for the supply of 13 additional train sets (1 train set = 6 train cars), or 78 additional train cars, to Nanjing Metro Line
Slated for delivery between 2015 and 2016, both contracts are expected to
contribute positively to the Group’s financial performance in 2015 and 2016.
This 1.11 BILLION contract just won is for METRO trains not for high speed train contracts yet , and as pointed out by Kevin scully
THE INTERNATIONAL RAILWAY JOURNAL has reported that China Railways Corporation has just awarded new contracts for 258 new high speed trains worth US$7.3bn to China Northern Rolling Stock Company (CNR) and China Southern Rolling Stock Company (CSR).
The contract is divided into two lots - Lot 1 comprising 78 250km/h trains was awarded to CSR Sifang in 8 batches.
Lot 2 comprises 180 350km/h trains to CNR Chang Chun (27 trains), CSR Sifang (83 trains) and CNR Tangshan (70 trains).
On 21 October 2013, Midas was awarded its first high speed rail contract worth RMB167.5mn from CNR Chang Chun and CNR Tangshan.
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