Hyundai Rotem Secures 748.2 Billion Won Railway Maintenance Deal in Morocco
Quick Look
- Hyundai Rotem has won a 748.2 billion won (US$487.3 million) railway maintenance contract in Morocco, expanding on a previous train supply deal.
- The 20-year agreement with ONCF covers 440 train cars and follows a 2.23 trillion won deal for double-decker electric trains.
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Why It Matters
Hyundai Rotem, a unit of Hyundai Motor Group, has secured a significant railway maintenance contract in Morocco, building upon a previous train supply deal. The agreement is part of Morocco's infrastructure development plans.
SEOUL, June 19 (Yonhap) -- Hyundai Rotem Co. said Friday it has secured a railway maintenance contract worth 748.2 billion won (US$487.3 million) in Morocco, building on a major train supply deal previously signed with the North African country.
The defense and railway equipment unit of Hyundai Motor Group signed the agreement with Morocco's national railway operator, ONCF, in the capital city of Rabat on Thursday (local time).
The project covers the maintenance of all 440 train cars to be supplied by Hyundai Rotem and will be carried out over a 20-year period through a joint venture established by the company and ONCF.
The deal follows Hyundai Rotem's 2.23 trillion-won contract secured in February last year to supply double-decker electric trains to Morocco.
The trains are expected to operate on routes connecting major cities centered around Casablanca as the country prepares to co-host the 2030 FIFA World Cup.
Open Questions
- Details of the joint venture structure
- Specific maintenance tasks involved
