Key Points
Hyundai Rotem wins $1.5 bn Morocco train contract
Double-decker electric trains to connect Casablanca
90% components from local Korean SMEs
Supports 2030 FIFA World Cup infrastructure
Under the 2.2 trillion-won (US$1.53 billion) contract, Hyundai Rotem Co., the train manufacturing subsidiary of Hyundai Motor Group, will supply double-decker electric trains to ONCF, Morocco's national railway operator, reports Yonhap news agency.
In the letter, Choi expressed appreciation for the Moroccan government's trust and interest in South Korea's globally competitive and technologically advanced companies, the finance ministry said in a release.
The ministry noted that Hyundai Rotem's deal is the single largest railway vehicle contract ever secured by a South Korean company in an overseas market.
It also emphasised that the deal is expected to significantly boost the growth and collaboration of domestic businesses, as approximately 90 percent of the train components will be supplied by around 200 local small and medium-sized enterprises.
The deal marks Hyundai Rotem's first entry into the Moroccan market and sets a new record as the company's single largest railway supply deal.
Previously, the company's biggest contracts included the Australian NIF double-decker train project worth 1.4 trillion won, the Australian Queensland train supply contract valued at 1.3 trillion won and the Los Angeles Metro train contract worth 900 billion won for the 2028 Los Angeles Summer Olympics.
The double-decker trains, capable of speeds of up to 160 kph, will connect Morocco's largest city, Casablanca, with key regions, enhancing the country's public transportation infrastructure ahead of the co-hosting of the 2030 FIFA World Cup.
Some components will be manufactured locally to contribute to Morocco's railway industry development.
The maintenance of the trains will be handled jointly by Hyundai Rotem and the Korea Railroad Corp. (KORAIL) through separate negotiations.
Hyundai Rotem attributed the success to collaborative efforts involving multiple government agencies, most notably the Ministry of Land, Infrastructure and Transport.
