Hankuk Fiber to Supply Rail Vehicles to India.
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Contract for 378 Rail Vehicles and 25 Billion Won with BEML
Additional 80 Vehicles for New Delhi Expected This Month
Hankuk Fiber, the top domestic composite material specialist that is achieving sustained growth based on proprietary technology development and excellent quality, announced that it has signed a contract with BEML—a public enterprise under the Indian Ministry of Defence—to supply rail vehicles for projects in Mumbai and New Delhi.
According to Hankuk Fiber on the 12th, the contract amount is 25 billion Korean Won, which accounts for 14.5% of last year's total revenue of 172.5 billion Korean Won.
Following the order for 378 vehicles for Mumbai, the company is also close to securing a contract for an additional 80 vehicles for New Delhi this month. Hankuk Fiber plans to leverage the experience and expertise gained from diverse domestic and international rail vehicle projects to secure additional rail vehicle orders in the Indian market.
In fact, Hankuk Fiber has secured orders for over 1,000 rail vehicles in the Indian market since 2014, including 262 vehicles for New Delhi, 86 for Kolkata, 192 for Bangalore, and now an additional 458 vehicles for Mumbai and New Delhi.
Hong Il-sik, Managing Director at Hankuk Fiber, stated, "We achieved the success of securing the 458-vehicle order for Mumbai and New Delhi by having our stable performance and quality recognized. With this order, we will deliver high-quality vehicles to ensure stable operation and utilize the Indian market as a foundation to cultivate global competitiveness that can succeed in any future global market, challenging ourselves for even larger orders."
[Source: Gyeongnam Maeil]