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Thursday, 3 January 2019

Hyundai Rotem wins USD 134.5 mn bid to supply Egypt with metro cars

Hyundai Rotem lands USD 134.5 mn contract to supply metro cars: Hyundai Rotem has landed a USD 134.5 mn contract to supply Egypt with 48 air-conditioned cars for line two of the Cairo Metro by 2021, South Korea’s Pulse News reports. The agreement will be funded via a facility fund from the European Bank for Reconstruction and Development (EBRD) amid government efforts to upgrade the country’s metro system, Youm7 reported. The agreement includes Hyundai provides maintenance for the cars through 2031. This is the third time the South Korean company has won a bid to supply Egypt’s National Authority for Tunnels with metro cars. In 2017, it signed a c.EUR 350 mn agreement to supply 32 cars for Cairo Metro’s lines three and four. The Korea Herald also had the story.

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