Booming demand for urban rail transit from an increasing number of Chinese cities would reignite the railway equipment industry, the China Securities Journal reported Friday.
The National Development and Reform Commission (NDRC) on Thursday revealed an urban transit plan for Kunming, capital of southwest China's Yunnan Province, that features a total investment of 63.49 billion yuan (10.34 billion U.S. dollars).
The NDRC, China's top economic planner, has approved urban transit construction plans for several cities, including Guiyang and Chongqing, for 2013.
The China Railway Corporation (CRC), newly formed in March 2013 after the breakup of the Ministry of Railways, has finished preparing for restarting the bullet train bidding, which is expected to begin in May or June.
MIDAS’ JV COMPANY NPRT WINS RMB420 MILLION TRAIN CONTRACT
- NPRT to supply 56 train cars to Shenzhen Metro Line 4
- Lifts value of NPRT’s year-to-date contract wins to over RMB1.4 billion
Singapore & Hong Kong, May 29, 2013 – 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) today announced that 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 a RMB420 million contract.
The latest contract is awarded by MTR Corporation (Shenzhen) Ltd (港铁道交通(深 圳)有限公司) for the supply of 56 train cars for the Shenzhen Metro Line 4, with
delivery slated from 2013 to 2014.
This contract is expected to contribute positively to the Group’s financial performance for the 2013 and 2014 financial years.
Midas Holdings said its joint venture company, Nanjing SR Puzhen Rail Transport Co., together with their consortium partners, has won a RMB1.1 billion ($224 million) contract.
The contract is for the supply of 29 train sets or 174 train cars, for Nanjing Metro Line 4 Phase 1 project, with delivery slated from 2014 to 2016.
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