Hyundai Rotem Co., the train manufacturing affiliate of Hyundai Motor Group, said Friday it has won two separate orders worth 220 billion won ($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.
A subway train operated by Seoul Metro (Courtesy of Hyundai Rotem) (Yonhap)
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. (Yonhap)
