Posted by Kevin Scully
Midas wins its second high speed train contract worth RMB318mn. Midas announced last night that it has received its second high speed train contract worth RMB318mn from CNR Tangshan. The order was secured by Midas subsidiary Jilin Midas Aluminium Industries Co., Ltd. This is the second high speed contract that Midas has won after the Chinese Government started issuing high speed train contracts again since August 2013.
In early April 2014, the Chinese Government announced that it would increase its high speed rail contracts in 2014 to 6600 km, 1000 km more than originally planned.
These announcements are not new and confirm that Midas has very strong macro fundamentals…….but the …