SINGAPORE (May 17): Midas says subsidiary Jilin Midas Aluminium Industries Co. has won 13 global and China supply contracts worth $105 million in total.

Jilin Midas made its maiden foray into Canada’s railway market after securing two supply contracts. Jilin Midas also secured another supply contract for a project in the US.

In total, the group secured $20.1 million worth of supply contracts for railway projects in North America.

Separately, Jilin Midas also secured a supply contract valued at $5.6 million for a railway project in Saudi Arabia.

In Europe, Jilin Midas won three supply contracts for projects in Italy, Holland and Germany. These came up to a total of $41 million.

In China, Jilin Midas secured six contracts worth a total of $38.7 million. Two of the supply contracts were awarded by CRRC Logistics Co. for the second phase of Hangzhou Metro Line 2 and Wuhan Metro Line 1. CRRC Nanjing Puzhen Co. also won a contract for the Suzhou Metro Line 3.

The other three China supply contracts were awarded by CRRC Changchun Railway Vehicles Co., for the Wuhan Metro Line 2 Extension, Shanghai Metro Line 12, as well a supply contract for trains traveling up to 200km/hour.

The contracts are slated for delivery progressively between 2017 and 2019, and are expected to contribute positively to the group’s financial performance between the financial years of 2017 and 2019.

Shares of Midas closed 0.5 cent lower at 22.5 cents on Wednesday.