ST Engineering announced that its electronics arm, ST Electronics, has been awarded a contract worth about US$4.6 million by Changchun Railway Vehicles (CRC). ST Electronics will deliver passenger information systems (PIS) for the Rio de Janeiro metro vehicles in Brazil, a project awarded to CRC by Concessao Metroviaria Do Rio De Janeiro. The contract was awarded through ST Electronics' subsidiary in Shanghai, ST Electronics.
ST Electronics will design, manufacture and commission the PIS which will be installed in 30 trains, with a total of 120 cars. The systems will enhance passenger travel experience through the provision of comprehensive real-time audio and multimedia information via computerized public announcements and digital display subsystems. Work on the project commences immediately and is expected to be completed by mid 2011.
Rio de Janeiro will host the 2016 Summer Olympic Games, which will see a large influx of visitors riding the metro.
“ST Electronics has been awarded more than 10 passenger information systems projects in China; of which this is the second such contract for use in Rio de Janeiro. The growing acceptance and confidence shown by the China market in our rail electronics capability is encouraging. We will continue to work closely and cost-effectively with our partners in China,” said Fook-Sun Lee, President of ST Electronics
This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.