Hyundai Rotem wins US6 mil. railway deal in Turkey

Hyundai Rotem wins US6 mil. railway deal in Turkey. April. 26, 2016 07:25. by 강유현기자 yhkang@donga.com.

Hyundai Rotem announced Monday that it signed a 316 million-dollar supply contract with the city government of Istanbul for 300 subway trains, with the cumulative orders against Turkey surpassing the mark at 1.74 billion U.S. dollars.

Under the contract, Hyundai Rotem will supply 300 unmanned subway trains, which will be used for a newly established 23km-long subway line that travels through 18 stations across Kabatş, Mecidiykoy and Mahmutbey.

Hyundai Rotem is planning to embark on the production of vehicles at a local plant in Turkey starting in the first half of 2017 to complete the delivery by 2021. This is one of the largest projects that Korea has signed on with Turkey in recent years, and a number of global railway giants from China and Europe entered the bid.

From a 461 million-dollar turn-key project on Manila's subway line in January to the construction of subway trains for Korea's Busan Metro Line No. 1 and the maintenance service on Wellington subway trains in New Zealand, Hyundai Rotem has already surpassed the mark of 87.1 million dollars in cumulative railway orders as of April this year. The orders have jumped almost seven-fold year on year from 12.1 million dollars.