Hyundai Rotem wins record 2.2 tln-won train supply deal from Morocco
SEOUL, Feb. 26 (Yonhap) -- Hyundai Rotem Co., the train manufacturing subsidiary of South Korea's Hyundai Motor Group, said Wednesday it has won a 2.2 trillion-won (US$1.53 billion) deal from Morocco to supply advanced trains to the North African nation.
Hyundai Rotem secured the contract to supply ONCF, Morocco's national railway operator, with double-decker electric trains, the company said in a press release.
The deal marks Hyundai Rotem's first entry into the Moroccan market and sets a new record as the company's single largest railway supply deal.
Previously, the company's biggest contracts included the Australian NIF double-decker train project worth 1.4 trillion won, the Australian Queensland train supply contract valued at 1.3 trillion won and the Los Angeles Metro train contract worth 900 billion won for the 2028 Los Angeles Summer Olympics.
The double-decker trains, capable of speeds of up to 160 kph, will connect Morocco's largest city, Casablanca, with key regions, enhancing the country's public transportation infrastructure ahead of the co-hosting of the 2030 FIFA World Cup.
Some components will be manufactured locally to contribute to Morocco's railway industry development.
The maintenance of the trains will be handled jointly by Hyundai Rotem and the Korea Railroad Corp. (KORAIL) through separate negotiations.
Hyundai Rotem attributed the success to collaborative efforts involving multiple government agencies, most notably the Ministry of Land, Infrastructure and Transport.
Transport Minister Park Sang-woo visited Morocco last year to promote the competitiveness of South Korea's railway industry.
The government also helped reinforce Hyundai Rotem's bid by extending support to Morocco via its Economic Development Cooperation Fund, a low-interest loan program designed to support infrastructure projects in developing nations.
KORAIL's offer to provide technology transfers, training programs and maintenance expertise also played a crucial role in securing the contract.
Hyundai Rotem said it anticipates the project will benefit over 200 small and medium-sized rail sector companies in South Korea, which will supply around 90 percent of the components.
The project is also expected to expand South Korea's presence in the African railway market. Hyundai Rotem has been involved in projects across Tunisia, Tanzania and Egypt, and this latest success is anticipated to enhance its competitive edge in future bids.
"We will ensure the delivery of high-quality trains that provide safe and convenient transportation for both local citizens and international visitors attending the 2030 World Cup," a Hyundai Rotem official said.
odissy@yna.co.kr
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