Hyundai Rotem wins $995 mln train contract in Australia

By Park Sae-jin Posted : August 18, 2016, 13:42 Updated : August 18, 2016, 13:42

[Courtesy of Hyundai Rotem]



Hyundai Rotem, a train-making subsidiary of South Korea's Hyundai Motor Group, said Thursday that it has secured a 995 million US dollar contract to supply electric trains in Australia.

Under the deal awarded by Australia's New South Wales state, Hyundai Rotem will supply 512 double-deck trains worth 889 billion won along with an option of 136 trains. The total value was estimated at 1.1 trillion won ($995 million).

Hyundai Rotem said it has formed a consortium with UGL, an Australian engineering and property services company, to win the contract. The delivery of trains will be completed in 2022.

It was Hyundai Rotem's largest-ever overseas deal. In April, Hyundai Rotem secured a $316 million contract to supply 300 subway trains to Turkey.

This year Hyundai Rotem completed the construction of a plant in Brazil that will become its foothold to tap into the Latin American market. The plant has an annual production capacity of 200 trains. The company has two other overseas plants in Turkey and the United States.

Aju News Lim Chang-won = cwlim34@ajunews.com
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