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Midas awarded S$17.3 million Singapore MRT train car body orders
Edited by : AL CIRCLE
2 min read
Midas Holdings Limited was pleased to announce that its subsidiary, Jilin Midas Aluminium Industries Co., Ltd has been awarded orders totaling S$17.3 million (approximately RMB86.5 million) from Alstom Transport S.A. to supply train car body module components for new trains on the Singapore North East Line and Circle Line on 9 April 2013.
Mr Patrick Chew, Chief Executive Officer of Midas, said, "Since 2004, we have successfully secured contracts to supply large section aluminium alloy profiles to manufacture body frames for the Singapore Downtown Line Project and Circle Line Project amongst others. We are pleased to have been awarded these orders from our long-standing major customer Alstom, testament to Jilin Midas' technical capabilities both at home and abroad."
In February 2013, Singapore's Transport Minister announced that transport operator, SMRT Corporation Ltd, will spend about S$1.75 billion from 2013 to 2019 to upgrade and purchase assets for its rail network. As part of this upgrade, SMRT will spend S$750 million to purchase additional trains for its Mass Railway Transit and Light Rail Transit lines, including 24 new trains for the Circle line.
Pursuant to these orders, Midas will supply train car body module components for 18 train sets (1 train set = 6 train cars), or 108 train cars for the NEL, and 24 train sets (1 train set = 3 train cars), or 72 train cars for the CCL.
Delivery is slated to take place progressively from 2013 to 2015. These orders are expected to contribute positively to the Group's financial performance for the financial years ending 2013 to 2015.
Mr Patrick Chew, Chief Executive Officer of Midas, said, "Since 2004, we have successfully secured contracts to supply large section aluminium alloy profiles to manufacture body frames for the Singapore Downtown Line Project and Circle Line Project amongst others. We are pleased to have been awarded these orders from our long-standing major customer Alstom, testament to Jilin Midas' technical capabilities both at home and abroad."
In February 2013, Singapore's Transport Minister announced that transport operator, SMRT Corporation Ltd, will spend about S$1.75 billion from 2013 to 2019 to upgrade and purchase assets for its rail network. As part of this upgrade, SMRT will spend S$750 million to purchase additional trains for its Mass Railway Transit and Light Rail Transit lines, including 24 new trains for the Circle line.
Pursuant to these orders, Midas will supply train car body module components for 18 train sets (1 train set = 6 train cars), or 108 train cars for the NEL, and 24 train sets (1 train set = 3 train cars), or 72 train cars for the CCL.
Delivery is slated to take place progressively from 2013 to 2015. These orders are expected to contribute positively to the Group's financial performance for the financial years ending 2013 to 2015.
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