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Hyundai Rotem wins $440mn turn-key project in Philippines

2016.01.22 19:00:02 | 2016.01.22 19:03:17
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Hyundai Rotem Co. has landed a contract to build a subway line and other necessary systems in the Philippines for 530 billion won ($440 million).

It is the company’s first overseas turn-key basis contract and the largest that Hyundai Rotem has ever made in the Philippines since 1996 when it first entered the market.

Under the deal signed with Universal LRT Corporation Limited (ULC), a consortium led by Hyundai Rotem will build a subway line linking Quezon City North EDSA in Manila to San Jose Del Monte in Bulacan, which is located in the northern part of the country. The contract also calls for the South Korean train maker to provide 108 subway cars, signaling, communication and power systems by the second half of 2019.

In 1996, Hyundai Rotem won an order to manufacture 28 light rail transit cars in the Philippines. It delivered 72 railway cars in 2004 and 18 diesel-powered cars in 2009 for the country.

A company official said that the achievement is in recognition of the company’s excellent cars delivered in the past and reliable project execution in Korea.

By Chun Beom-joo

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



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