Midas JV firm seals $375m Shanghai rail deal
To supply train cars to Shanghai Metro Line 13 Phases 2 & 3.
Midas Holdings Limited has clinched a $375m (RMB 1.73b) train contract in Shanghai via its joint venture company Nanjing SR Puzhen Rail Transport.
The contract was awarded by Shanghai Rail Transit Line 13 Development Co. for the Shanghai Metro Line 13 Phases 2 and 3, with delivery scheduled between 2016 and 2017.
Midas has a 32.5% equity stake in NPRT, a Sino-foreign joint venture, engaged in the development, manufacture and sale of metro trains, bogies and their related parts.