Hyundai Rotem Secures Record Contract for Train Supply in Morocco

Hyundai Rotem secured a historic 2.2 trillion won ($1.5 billion) train order with Morocco, marking its largest ever contract. The deal involves supplying double decker trains for improved public transport in advance of the 2030 World Cup. Local production will stimulate Morocco’s railway industry, and the initiative aims to enhance cooperation between the public and private sectors.

Hyundai Rotem has achieved a significant milestone by securing a record contract worth 2.2 trillion won (approximately $1.5 billion) with Morocco. This agreement, signed with the Moroccan National Railways Office, represents the largest single deal in the company’s history. The contract entails supplying double decker trains designed to enhance the public transportation network in Morocco as the nation prepares to co-host the 2030 World Cup with Spain and Portugal.

The double decker trains will attain a top speed of 160 kilometers per hour, connecting Casablanca, the largest city in Morocco, with essential regions across the country. Hyundai Rotem anticipates that this initiative will greatly improve public transport infrastructure. Furthermore, local production of some train components will foster growth within Morocco’s railway industry, providing substantial economic benefits to the region.

The collaboration between Hyundai Rotem and the Korea Railroad Corporation (Korail) will ensure comprehensive maintenance and repair services for the trains, to be negotiated separately with Moroccan officials. This contract is also expected to empower smaller Korean enterprises within the railway sector, as about 90 percent of train components will be sourced from South Korean small- to medium-sized businesses.

This deal marks Hyundai Rotem’s inaugural entry into the Moroccan market, driven by robust teamwork between public and private sectors, including support from the Ministry of Land, Infrastructure and Transport and Korail. Transport Minister Park Sang-woo’s visit to Morocco last year aimed to showcase Korea’s railway capabilities and competitive edge against European competitors.

Hyundai Rotem’s successful proposal included technology transfer and training, receiving positive responses from Moroccan authorities. With this partnership, the company is poised to expand its footprint in Africa, having previously engaged in projects in countries like Tunisia, Tanzania, and Egypt.

Hyundai Rotem’s landmark contract with Morocco highlights the company’s commitment to enhancing public transportation infrastructure while fostering economic growth. The collaboration between various sectors emphasizes the competitive aspects of Korea’s railway technology and the role of local production. This successful entry into the Moroccan market sets a precedent for future African ventures and signifies the importance of international collaborations in the railway industry.

Original Source: www.koreaherald.com