Jilin Midas Aluminium Industries, a subsidiary of Midas Holdings, has secured contracts worth RMB167.5m ($27m) from CNR Changchun Railway Vehicle and CNR Tangshan Railway Vehicle.
Under the contracts, Jilin Midas will supply aluminium alloy extrusion profiles and certain fabricated parts for the manufacture of high-speed trains to major producers in China.
Midas executive director and CEO Patrick Chew said that with these contract wins are for high-speed trains that will operate at speeds of up to 350km per hour.
“Our ability to compete and win contracts at this level positions the group well to benefit from the developments in China’s passenger rail transportation sector,” Chew added.
The contracts are expected to add to Midas’s financial performance from 2013 to 2014.
Earlier this month, Jilin Midas secured global contracts worth €17.7m for two major train projects in Europe and RMB75.9m worth of metro orders for the China market.
Under the contracts, Midas will supply aluminium alloy extrusion profiles and certain fabricated parts for two major train projects in Europe between 2013 and 2017.
Midas has a 32.5% stake in Nanjing SR Puzhen Rail Transport, an associate firm engaged in the manufacturing and sale of metro trains, bogies and their related parts.
It also has participation in contracts such as trains for the Beijing-Tianjin High Speed Train Project, and inter-city high-speed trains for the CRH3-380 Project.
