ST Engineering bags $1.4b turnkey rail contract for Kaohsiung MRT Yellow Line
The contract was granted by Kaohsiung City Mass Rapid Transit Bureau.
ST Engineering bagged a $1.4b contract from Kaohsiung City Mass Rapid Transit Bureau to provide turnkey rail services to its new MRT Yellow Line.
In a bourse filing, ST Engineering said the contract was awarded to its Urban Solutions subsidiary as part of a consortium.
Services that ST Engineering will provide include rail electronics solutions and above-ground train depot design, construction and equipment fit.
The company will also be responsible for overall project management and serve as the systems integration lead of the rail line.
“Winning this landmark Yellow Line project demonstrates the industry’s confidence in our unique strengths and attests to our capability in moving up the value chain to deliver full turnkey rail services, systems integration and project management. With our deep market familiarity and strong technical and engineering expertise, we are confident in delivering a world-class modern metro line that will improve connectivity and quality of life for residents in Kaohsiung,” said Chew Men Leong, President of Urban Solutions at ST Engineering.
The contract will not have a material impact on the net tangible assets per share and earnings per share of ST Engineering for the current financial year.