Hyundai Rotem Secures Record-Winning W2.2 Trillion Train Contract in Morocco

Hyundai Rotem secured a record 2.2 trillion won ($1.5 billion) contract with Morocco to supply double-decker trains, marking its largest single deal to date. The trains will serve vital connections in anticipation of the 2030 World Cup. The initiative will promote local economic development and highlight Korea’s railway capabilities in the global market.

Hyundai Rotem announced the acquisition of a historic 2.2 trillion won (approximately $1.5 billion) contract to supply double-decker trains to Morocco, marking the company’s largest single deal to date. The contract, signed with the Moroccan National Railways Office, aims to enhance public transportation systems in preparation for the 2030 FIFA World Cup, which the country will co-host with Spain and Portugal. The trains are designed to reach speeds of up to 160 kilometers per hour, connecting Casablanca with other significant regions.

The production of several train components will occur within Morocco, fostering the local railway industry’s growth. Maintenance and repair of these Korean-made trains will be overseen by Hyundai Rotem in collaboration with the state-run Korea Railroad Corporation (Korail) through subsequent negotiations with Moroccan authorities. Importantly, about 90% of the train parts will be sourced from small- and medium-sized Korean companies, benefiting the local economy.

This contract marks Hyundai Rotem’s inaugural foray into the Moroccan market, attributed to collaborative efforts between Korea’s public and private sectors, including the Ministry of Land, Infrastructure and Transport and Korail, which successfully outbid European competitors. Transport Minister Park Sang-woo previously traveled to Morocco to underscore the strengths of Korea’s railway offerings. Korail’s initiative to share technology and provide training received favorable responses from Moroccan officials.

Through this contract, Hyundai Rotem aims to enhance its competitiveness in the African market, utilizing experiences garnered from previous projects in Tunisia, Tanzania, and Egypt. Past significant contracts include the 1.4 trillion won double-decker train project in Australia, the 1.3 trillion won supply agreement for Queensland, and a 900 billion won contract for Los Angeles Metro projects relating to the 2028 Summer Olympics.

A Hyundai Rotem official stated, “The secured order is a case that was achieved through ‘One Team Korea’ bringing the public and private sectors together, acknowledging the Korean railway’s competitiveness in the global market.” The official added, “We will do our best to supply high-quality trains to not only (Moroccan) citizens but also visitors to the 100th World Cup in 2030 so they can safely and conveniently ride them.”

In conclusion, Hyundai Rotem’s landmark contract with Morocco signifies a significant advancement for Korean railway manufacturers in international markets. The project not only prepares Morocco for the upcoming World Cup but also promotes local economic development through domestic production and maintenance initiatives. This collaboration exemplifies the synergy between public and private sectors in enhancing global competitiveness.

Original Source: www.koreaherald.com