Mainboard-listed Midas Holdings announced today that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., has clinched a RMB59 million ($11.9 million) contract to supply aluminium alloy extrusion profiles, including fabricated parts, to the inter-city high-speed train CRH5 EMU project in China. The contract was awarded by CNR Changchun Railway Vehicles Co.

Under the terms of the contract, Jilin Midas will supply 20 train sets or 160 train cars, for the CRH5 EMU project with speeds up to 250km/h.

Delivery of the train cars is expected to take place this year. As such, the contract is expected to have a positive impact on the group’s financials for the financial year ending December 31, 2010.