China's CRRC Corp. Ltd. is going to produce subway cars for Hong Kong's railway operator, in its largest subway car deal.
CRRC subsidiary CSR Qingdao Sifang Co. Ltd signed a contract valued at 4.84 billion yuan (790 million U.S. dollars) with MTR Corporation to supply 93 eight-car trains, a CRRC statement said on Thursday.
Featuring modern systems and equipment, the trains will be delivered between 2018 and 2023 to replace first-generation trains operating on the Kwun Tong, Tsuen Wan, Island and Tseung Kwan O lines.
The new trains will have improved lighting, dynamic route maps, and more comfortable handrails.
CRRC was formed by the merger of China's former top two train manufacturers, China North Railway and China South Railway. The new conglomerate debuted on the Chinese stock market on June 8.
CRRC's share prices gained on Thursday, up 1.56 percent in Shanghai and 1.51 percent in Hong Kong.
