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.
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.
According to public sector tendering website statistics released in 2013, a total of 20 cities with the total size of the 34 projects totalling over 3982 trains/units - the highest ever per calendar year. China South Locomotive won total of 20 projects of 2160 units, more than half of the market share, the number of vehicles accounted for 54% of the domestic market, is the mark for the first time exceeded 2000 units, a record high.
Analysts pointed out that with unveiling of the domestic urban rail transit masterplans , urban rail transit vehicles orders will usher in the new year with explosive market growth. According to Society of Civil Engineers city rail Commission issued the "China Urban Mass Transit annual report" Statistics, there were more than 50 cities planned for subway lines, total lines more than 400, the total mileage of more than 14,000 km. Statistics show that as of now, the country has approved 36 cities (not including Hong Kong, Macao and Taiwan regions) of rail transit network planning and construction, with a total mileage of 5,790 kilometers, just inland cities bidding reached 28, the opening of the city 18. The line is expected to open to traffic in 2015,will be more than 3000 km . And by 2020 it will reach 7,000 kilometers
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.
