Midas Holdings' (SIN:5EN) JV Won CNY474M China Metro Train Contract
Singapore, April 13, 2010 AEST (ABN Newswire) - 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.
Contact
Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
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