Hyundai Rotem Wins 450 Bil. Won Rolling Stock Order from Brazil

SEOUL, KOREA- Hyundai Rotem announced on August 11 that it signed a deal worth 450 billion won to supply 240 units of rail cars to Brazil's Sao Paulo.The signing ceremony was held on August 9 at the Office of the Sao Paulo Transportation Ministry, in which many dignitaries attended, including Han Kyu-Hwan, vice chairman of Hyundai Rotem.

In the bidding race, Hyundai Rotem beat other major rail car makers, including Spain's CAF (Construcciones y Auxiliar de Ferrocarriles) and China's CNR Corp.

Hyundai Rotem will supply the rail cars through joint production with local company IESA. Hyundai Rotem plans to manufacture the rail cars at its plant in Changwon, near Busan, as well as a local plant in Brazil, aimed at delivering them by 2016.

The rail cars will be assigned for Sao Paolo's suburban lines linking Sao Paolo with its neighboring cities, including Moji das Cruzes. Starting with the supply of 24 rail cars in 2003, Hyundai Rotem has thus far received orders for a total of 518 rail cars worth 900 billion won from Brazil alone.