S KOREA’S HYUNDAI ROTEM SET TO WIN US$420 MLN TRAIN SUPPLY DEAL FROM EGYPT

Hyundai Rotem Co, the train making unit of Hyundai Motor Group, may soon sign a 490 billion-won (US$ 420 million) deal, to supply train carriages to Egypt, South Korea’s Yonhap news agency reported the company as saying Wednesday.

The South Korean firm has been named the sole preferred bidder for the deal, to supply 256 train carriages, according to a company official.

“The company will sign the deal, as soon as it receives a letter of offer and acceptance, from the Egyptian side,” the official said.

The 256 train carriages will make up half of some 500 train carriages, on Cairo’s No. 3 train route, he noted, adding, the latest deal may help pave the way for the company’s expected bid, to supply train carriages for another train route in Cairo.

Source: NAM NEWS NETWORK