Midas Holdings clinches rail contracts worth $455.4m

Slated for delivery in 2016 and 2017.

Midas Holdings reported that its associate has won three rail contracts worth $455.4m (RMB 2.1b) in the People’s Republic of China.

The projects include two contracts for the Hefei Rail Transit Line 2 and Shanghai Metro Line 8 Phase 3 projects, along with a tram supply contract for Suzhou National New & Hi-tech Industrial Development Zone Tramline 2.

Delivery of the metro trains and trams is scheduled between 2016 and 2017 and the contracts are expected to contribute positively to the Group’s financial performance for the 2016 and 2017 financial years.
 

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