Hyundai Rotem wins 220 bln-won order to build subway trains

SEOUL-- Hyundai Rotem Co., the train manufacturing affiliate of Hyundai Motor Group, said Friday it has won two separate orders worth 220 billion won (US$196 million) to build subway trains for Seoul's metro company.

The company said in a statement it received a 176 billion-won order from Seoul Metro to build 214 trains for the capital city's subway line No. 2 by 2020.

In the other deal, the company won a 43.8 billion-won order to build 50 train cars for the subway line No. 4 by 2019, it said.

Hyundai Motor Co. owns a controlling 43.4 percent stake in Hyundai Rotem, followed by Morgan Stanley Private Equity with a share of 24.8 percent, with the National Pension Service having a 6.1 percent stake.

Hyundai Rotem builds commercial rolling stock, vehicle production facilities, tanks and armored vehicles.

Source: Yonhap News Agency

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