Rabat: Acting President Choi Sang-mok has sent a letter to King Mohammed VI of Morocco, expressing gratitude after a South Korean company secured a major contract to supply advanced trains to the North African nation, Choi's office said Wednesday.
According to Yonhap News Agency, 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.
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 emphasized 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.