Selected as the Preferred Bidder Early in Feb.
Hyundai Rotem is close to winning a multi-trillion-won motor car project in Australia.
A consortium led by Hyundai Rotem and Downer, an Australian transportation company, was selected in early February as the preferred bidder for a railway project promoted by the Queensland government in Australia.
The large-scale project is worth a total of US$7.1 billion. Hyundai Rotem will be in charge of manufacturing electric locomotives. Analysts say that the value of the order will reach trillions of won. “The order contract has not been inked yet,” a Hyundai Rotem official said. “The amount of the order has not been fixed yet.”
Hyundai Rotem entered the Australian railway market by supplying trains to Sydney. In 2016, it won an order for 512 double-decker trains for about 890 billion won from the Sydney New South Wales Department of Transportation and landed an additional order for 42 motor cars for about 83 billion won in 2019.