Africa News Hyundai Rotem bags 3rd $134.5 mn subway car order...

Hyundai Rotem bags 3rd $134.5 mn subway car order from Egypt

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[Photo provided by Hyundai Rotem Co.]

[Photo provided by Hyundai Rotem Co.]

South Korea’s Hyundai Rotem Co., locomotive and rolling stock unit of Hyundai Motor Group, has won a 150.8 billion won ($134.5 million) deal to supply and maintain 48 subway cars for the Cairo metro system in Egypt.

This marks the company’s third subway because supply order from Egypt’s National Authority for Tunnels, according to the company on Wednesday.

The 48 trains with a maximum travel speed of 80 kilometers per hour will be delivered by 2023 to serve as the Cairo metro Line 2, which runs 21.6 kilometers with 20 stops across the capital city.

The company will also provide maintenance and repair services for the vehicles through 2031.

Hyundai Rotem had supplied 180 subway cars for Cairo metro Line 1. It won orders for 256 subway cars for Line 3 in 2017 with delivery scheduled for 2025.

On Wednesday, Hyundai Rotem shares are trading 1.97 percent lower at 27,300 won, as of 12:21 p. m.

By Kang Gye-man and Cho Jeehyun

[ⓒ Pulse by Maeil Business News, Korea & mk.co.kr, All rights reserved]

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