China’s largest train manufacturer will provide cars for subways in the Turkish capital of Ankara, the company said on Wednesday.
CSR Corporation Ltd. (CSR) won a 2.5-billion-yuan (394.94 million U.S. dollars) bid, or 3.1 percent of its 2011 business revenues, to provide 324 cars for Ankara’s four major subway lines, the company said in a statement to the Shanghai Stock Exchange.
After a contract is signed, CSR will make its first delivery consisting of 15 cars in 20 months. The rest of the cars are expected to be sent to Turkey within 39 months, the statement said.
CSR’s share price climbed 2.4 percent to 4.27 yuan per share on the Shanghai bourse Wednesday and rose 2.8 percent to 5.87 Hong Kong dollars on the Hong Kong bourse.