Jilin Midas Aluminium Industries, a subsidiary of Midas Holdings, has secured three contracts worth CNY66.7m ($10.4m) to supply aluminium-alloy extrusion profiles in Singapore and China.
A CNY31.1m ($4.86m) contract is awarded for the supply of aluminium-alloy extrusion profiles and fabricated parts for high-speed trains that will operate at speeds of up to 250km/h.
The second contract, worth CNY10.5m ($1.64m), is to deliver aluminium-alloy extrusion profiles to the Singapore Downtown Line.
Both the contracts were awarded by Changchun Railway Vehicles and the equipment is scheduled to be delivered later this year.
Midas executive director and chief executive officer Patrick Chew said: "Our latest Singapore contract follows our participation in the Circle Line, North East Line and adds to an earlier contract for the Downtown Line. We hope to continue to play a role in enhancing Singapore’s infrastructure.
"We believe that the combination of the above mentioned factors and our reputation as a quality supplier will aid us in capitalising on the growth of the railway industry."
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By GlobalDataThe third contract worth CNY25.1m ($3.91m) is from the group’s associated company, Nanjing SR Puzhen Rail Transport, for the supply of aluminium-alloy extrusion profiles and fabricated parts for metro trains operated on the Nanjing Metro Ninghe Intercity Line.
Under the terms of the contract, Jilin Midas will deliver the products between 2015 and 2016.
A manufacturer of aluminium-alloy extrusion products for the passenger rail transportation sector in China, Midas has a 32.5% stake in Nanjing SR Puzhen Rail Transport, an associate firm engaged in the manufacturing and sale of metro trains, bogies and their related parts.
