Hyundai bids for Rs 2,300cr Delhi Metro contract

Hyundai Motor is in the race for a Rs 2,300 crore contract to supply 400 trains for phase-II of Delhi Metro.

Chung Mong Koo, chairman of Hyundai, who called on Prime Minister Manmohan Singh today, is understood to have expressed his company's desire to win the contract through its rolling stock affiliate Rotem.

The company also said it would build an engine factory and a research centre in Chennai, besides a second car plant, according to an official statement issued by the company today.

"The construction of a second (car) plant and a new engine-transmission plant would greatly boost production and sales," the statement said.

The company had earlier said it would expand production at its existing plant in Chennai from 280,000 cars to 300,000 a year, while the second plant would have any annual capacity of 30,000 units by mid-2007.