See how Midas Holdings will benefit from booming China metro industry
It's a domino effect.
Midas Holdings (Midas) has announced that its 32.5%-owned JV Nanjing SR Puzhen Rail Transport (NPRT) has clinched a CNY1.26b metro contract for the supply of 33 train sets (or 198 train cars) for the Shenzhen Metro Line 3 project. Delivery is scheduled only from 2015 to 2016.
"Given that this is the third contract secured by NPRT in two weeks, we believe this highlights the growing momentum of China’s metro industry. In our view, this may also lead to future contract wins for Midas given that it is a supplier of aluminium extrusion profiles for NPRT," said OCBC.