Midas Holdings says its its aluminium alloy division, Jilin Midas Aluminium Industries Co., has secured two contracts worth RMB 60.6 million ($12.4 million) to supply aluminium alloy extrusion profiles for a total of 315 train cars for two metro projects in Singapore and China respectively.

The first contract, awarded by CNR Changchun Railway Vehicles Co., is for the supply of 73 train sets or 219 train cars for the Downtown Line Project in Singapore for RMB38.7 million.

Delivery of the train cars for the Downtown Line is expected to take place from February 2010 to June 2015. As such, the contract is expected to have a positive impact on the financial results for the financial years ending from 2010 to 2015.

The second contract, awarded by Midas’ joint-venture company, Nanjing SR Puzhen Rail Transport Co., is for the supply of 24 train sets or 96 train cars, for the Shenzhen Line 4 Project.

Valued at RMB21.9 million, the contract is expected to be fulfilled from February 2010 to May 2011, and will have a positive impact on the financial results for the financial years ending 2010 and 2011.