Midas bags three rail deals worth $14.6m

Slated for delivery in 2015 and 2016.

Midas Holdings has secured three supply contracts worth $14.6m (RMB 66.7m) for customers in the People's Republic of China.

The first contract is worth $6.8m (RMB31.1m) and involves 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 $2.3m (RMB10.5m), is for the supply of aluminium alloy extrusion profiles to the Singapore Downtown Line.

Both contracts are awarded by Changchun Railway Vehicles and slated for delivery in 2015.

The third contract worth $5.51m (RMB25.1m) is from its associated company, Nanjing SR Puzhen Rail Transport, for the Nanjing Metro Ninghe Intercity Line.

Under the terms of the contract, Jilin Midas will supply aluminium alloy extrusion profiles and fabricated parts for metro trains, with delivery scheduled between 2015 and 2016.