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Hyundai Rotem wins $316m train-supply deal from Turkey

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Staff writer ▼ | April 26, 2016
Hyundai Rotem, a train-making unit of the Hyundai Motor Group, secured a deal to supply subway trains to Turkey for $316 million.
Hyundai Rotem
New subway lines   The deal with the Istanbul city government
The deal signed with the Istanbul city government calls for Hyundai Rotem to deliver 300 trains by the end of 2021, the company said in a press release. Hyundai Rotem said it will begin to supply the trains to be deployed in new subway lines from the first half of this year.

This marked the 14th major deal secured from Turkey. Hyundai Rotem said that it had competed with rivals from China and Europe in clinching the business there.

"Thanks to the business project in Turkey, we expect to gain a stronger foothold in future bidding processes," a Hyundai Rotem official said.

With the latest deal, Hyundai Rotem's cumulative contracts secured this year have topped 1 trillion won. In January, it won a 530 billion won ($460.9 million) deal to build a subway system in the Philippines followed by a 187 billion won maintenance contract in New Zealand.