Singapore-based Midas’ joint venture (JV) CRRC Nanjing Puzhen Rail Transport (NPRT) has won two metro train car supply contracts worth a combined CNY1.77bn ($254.5m).

Changzhou Rail Transit Development awarded the first supply contract worth around CNY1.05bn ($150.9m) for the Changzhou Rail Transit Line One Phase I procurement project.

Delivery of this contract is due to take place between January 2018 and November 2019.

NPRT secured the second supply contract worth CNY720m ($103.5m) from Xuzhou Rail Transit Line One Investment and Development for the Xuzhou Urban Rail Transit Line One Phase I procurement project.

This contract is expected to be delivered between May 2018 and August 2019.

"With continuing PRC central government-supported investments into China’s rail network, we are optimistic about new opportunities in the years ahead."

Midas executive director and CEO Patrick Chew said: “We are heartened to note that NPRT continues to be a beneficiary of China’s continued push to expand its railway systems, including its urban rail transit systems nationwide.

“This will help drive demand for metro train cars, and we believe NPRT is well-positioned to ride on the positive industry trend. With continuing PRC central government-supported investments into China’s rail network, we are optimistic about new opportunities in the years ahead.”

Midas holds a 32.5% equity stake in NPRT, which is a Sino-foreign joint venture, and develops, manufactures and sells metro trains, bogies and their related parts.

The company manufactures aluminium alloy extrusion products for the passenger rail transportation sector in China.

It has participated in several contracts such as the Beijing-Tianjin High-Speed Train Project, and the CRH3-380 inter-city high-speed trains project.