SEOUL, Nov. 22 (Korea Bizwire) — Hyundai Rotem Co., the train manufacturing affiliate of Hyundai Motor Group, said Wednesday it has won a 65 billion won (US$60 million) maintenance order for 90 subway trains in Ukraine.
On Tuesday, Hyundai Rotem signed the deal with Ukraine Railway Speed Company (URSC) to extend its maintenance and repair services for the 90 subway trains by five years until 2027, the company said in a statement.
In 2010, Hyundai Rotem obtained a 350 billion won order to build the 90 subway trains for URSC and had already signed a deal to maintain and repair the trains until 2022, it said.
Hyundai Rotem manufactures railway systems, defense systems and plant equipment.
Hyundai Motor 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.