SINGAPORE (Jan 3): Midas Holdings says that its 32.5%-owned joint venture company CRRC Nanjing Puzhen Rail Transport Co, had been awarded two metro train car supply contracts with a total value of RMB 1.77 billion ($369 million).

The first supply contract, awarded by Changzhou Rail Transit Development Co for the Changzhou Rail Transit Line One Phase One Procurement Project, is valued at RMB1.05 billion and is expected to be delivered between Jan 2018 and Nov 2019.
 
The second supply contract was awarded by Xuzhou Rail Transit Line One Investment and Development Co for the Xuzhou Urban Rail Transit Line One Phase One Procurement Project. It has a contract value of RMB720 million and is slated for delivery between May 2018 and August 2019.

Midas also added that the contracts will “contribute positively” to the group’s financial performance for FY18 and FY19 contracts.

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