Hyundai Rotem (064350.KS) said in a regulatory filing on the 21st that it signed a contract worth about 239.2 billion won ($169 million) with the Department of Rapid Transit Systems of Taiwan's Taoyuan City Government to supply railway electrical and mechanical (E&M) systems. E&M projects build the electrical and mechanical systems required to operate urban rail networks, including power, signaling and communications.
Under the contract, Hyundai Rotem will supply seven driverless trainsets and railway power systems for the Zhongli extension of Taoyuan's Green Line. The extension will link Zhongli to the Green Line, which runs north to south connecting the local airport railway and Taipei. The contract runs from Sept. 1 this year through April 11, 2033.
Hyundai Rotem will carry out the project through a consortium with ST Engineering Urban Solutions. Hyundai Rotem said in a filing in August that it had received the letter of award for the project.