Midas Holdings announced it has won 318 million yuan ($64.4 million) worth of contracts for high-speed train car body components worth from CNR Tangshan Railway Vehicle Company.

Jilin Midas will supply aluminium alloy extrusion profiles and fabricated parts for trains that will operate at speeds up to 350 kph.

The contracts were won by Jilin Midas Aluminium Industries Company, a subsidiary of Midas and the components will be delivered this year.

The contracts are expected to contribute positively to Midas' financial performance for the financial year ending Dec.