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December 8, 2016

Deals this week: Downer EDI, Jilin Midas Aluminium Industries

Downer EDI has secured a $1.2bn Sydney Growth Trains contract from Transport for New South Wales (NSW).

Downer EDI has secured a $1.2bn Sydney Growth Trains contract from Transport for New South Wales (NSW) in Australia.

The contract covers the supply of 24 double-decker trains and maintenance for an initial period of 25 years, with options for a five-year extension and the delivery of an additional 45 trains.

Downer sub-contracted CRRC Changchun Railway Vehicles (CRRC) for the production of the train sets.

Jilin Midas Aluminium Industries, a subsidiary of Midas, has secured five supply contracts worth $33.70m.

The contracts include two European orders worth $19.99m, a $2.12m order from the Middle East, and two orders worth $11.59m from China.

Scheduled for completion in 2017, the five contracts are expected to improve the company's financial performance in the next fiscal year.

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