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

SEOUL, S.Korea 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 cars 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 cars, according to a company official.

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

The 256 train cars will make up half of some 500 train cars 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 cars for another train route in Cairo.

Source: NAM NEWS NETWORK

Arab News Express