Photo from UNIAN
Korean train manufacturing firm Hyundai Rotem has renewed its maintenance services for 90 subway trains in Ukraine, securing an additional 65 billion won ($59.6 million), according to The Korea Herald.
Hyundai Motor's affiliate signed a deal with Ukraine Railway Speed Co. to extend its project by five years, the company said in a statement Wednesday, November 22, The Korea Herald reported.
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In 2010, Hyundai Rotem secured a 350 billion won deal to build 90 subway trains for Ukraine Railway Speed Co. It has also been providing 24-hour maintenance services for the trains in Ukraine.
Hyundai Motor owns a 43.4% stake in Hyundai Rotem, which offers railway and defense systems as well as plant equipment. Morgan Stanley Private Equity also has a share of 24.8% in the firm.