Midas Holdings clinched $32m high-speed train car body contracts
The trains will operate at speeds of up to 350km/hr.
Mainboard-listed Midas Holdings today revealed that its subsidiary, Jilin Midas, has secured contracts worth $32m (RMB151.7m) for the supply of high-speed train car body.
Awarded by CNR Changchun Railway Vehicle, the new contracts will see Jilin Midas supply aluminium alloy extrusion profiles and certain fabricated parts for high-speed trains that will operate at speeds of up to 250km/hr and 350km/hr.
Slated for delivery in 2014 and 2015, these contracts are expected to contribute positively to Midas’ financial performance for the financial years ending December 31, 2014 and 2015.