Hyundai Rotem says may sign $420mn train supply deal with Egypt soon

South Korea’s Hyundai Rotem Co., the train making unit of Hyundai Motor Group, may soon sign a 490 billion-won ($420 million) deal to supply train cars to Egypt, the company said on Wednesday.

The South Korean firm has been named the sole preferred bidder for the deal to supply 256 train cars, according to a company



official.

"The company will sign the deal as soon as its receives a letter of offer and acceptance from the Egyptian side," the official said.

The 256 train cars will make up half of some 500 train cars on Cairo's No. 3 train route, he noted, adding the latest deal may help pave the way for the company's expected bid to supply train cars for another train route in Cairo.