Midas Holdings (HKG:1021) announced that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd, has won 2 metro contacts worth a combined RMB62.2 million from customers in the PRC. The delivery for both orders are expected to take place progressively from 2012 to 2013.

The first contract, worth RMB33.7 million, is awarded by CSR Zhuzhou Electric Locomotive Co., Ltd. Under the terms of the contract, Midas will supply aluminium alloy extrusion profiles and certain fabricated parts for 22 train sets, or 132 train cars, for the Ningbo Metro Line 1 project.

The second contract, worth RMB28.5 million, is awarded by the group's 32.5% owned joint-venture company, Nanjing SR Puzhen Rail Transport Co., Ltd (NPRT). Under the terms of the contract, Midas will supply aluminium alloy extrusion profiles for 21 train sets, or 126 train cars, for the Nanjing Metro Line 10 project.

Source:chinesestock.org