Hyundai Rotem Secures Record $1.5 Billion Train Order in Morocco

Hyundai Rotem has secured a record $1.5 billion order for double-decker trains in Morocco, marking the company’s largest single deal. The trains, set to connect Casablanca with key regions, aim to elevate public transport ahead of the 2030 World Cup. Production will occur partly in Morocco, supporting local industry and enhancing bilateral collaboration.

Hyundai Rotem has secured a monumental train order in Morocco valued at 2.2 trillion won (approximately $1.5 billion), which represents the largest single deal in the company’s history. The agreement, finalized with the Moroccan National Railways Office, involves the supply of double-decker trains designed to enhance public transportation in the North African country as it prepares to co-host the 2030 World Cup alongside Spain and Portugal.

These double-decker trains will reach speeds of up to 160 kilometers per hour and will primarily connect Casablanca, Morocco’s largest city, with other significant regions. The introduction of these trains is anticipated to significantly bolster local public transportation infrastructure. Notably, a portion of the production will occur in Morocco, contributing to the growth of the local railway industry.

Additionally, Hyundai Rotem, in partnership with the state-owned Korea Railroad Corporation (Korail), will oversee the maintenance and repair of the trains. Approximately 90 percent of the train parts will be supplied by small to medium-sized Korean enterprises, further supporting local economies.

This contract signifies Hyundai Rotem’s inaugural venture into the Moroccan market, achieved through collaborative efforts between public and private sectors, including the Ministry of Land, Infrastructure and Transport. Transport Minister Park Sang-woo’s visit to Morocco last year to promote Korea’s railway capabilities helped secure this competitive edge over European bidders.

Hyundai Rotem has previously engaged in various railway projects in Africa, including in Tunisia, Tanzania, and Egypt. This contract marks an important step in enhancing the company’s footprint in Africa and underscores their commitment to delivering high-quality trains to both Moroccan citizens and visitors for the 2030 World Cup.

“The secured order is a case that was achieved through ‘One Team Korea’ bringing the public and private sectors together, acknowledging the Korean railway’s competitiveness in the global market,” said a Hyundai Rotem official. “We will do our best to supply high quality trains to not only Moroccan citizens but also visitors to the 100th World Cup in 2030 so they can safely and conveniently ride them.”

Hyundai Rotem’s landmark contract in Morocco, valued at 2.2 trillion won, marks a significant advancement for the company, enhancing local public transportation as the nation gears up for the 2030 World Cup. This agreement not only strengthens bilateral cooperation but also supports local industry growth through the involvement of Korean firms. With the successful execution of this project, Hyundai Rotem is set to expand its influence in the African railway market significantly.

Original Source: www.koreaherald.com