- ComfortDelGro announced that its joint venture, Connecting Stockholm, has been awarded a contract to operate and maintain the Stockholm Metro. Connecting Stockholm is a 55:45 joint venture between Go-Ahead Group (GOG LN) and ComfortDelGro.
About The Stockholm Metro Contract
- - Read this at SGinvestors.io -
- The contract is for a term of 11 years, starting in May 2025F.
- According to Swedish media outlet Dagens Nyheter, the contract value is ~SEK40bn (S$5.1bn).
New operating geography for ComfortDelgro
- - Read this at SGinvestors.io -
- Stockholm Metro is ComfortDelGro’s first rail contract in Sweden and its largest rail passenger operation outside of Singapore. This also marks ComfortDelGro’s third successful entry into a new operating geography since 2021, having won contracts in New Zealand and France similarly via a partnership model.
Partnership model
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
ONG Khang Chuen CFA CGS-CIMB Research | https://www.cgs-cimb.com 2024-01-24
Previous report by CGS-CIMB:
2024-01-11 ComfortDelGro - 4Q23 PATMI Likely To Double Y-o-y; UK Tailwinds Fuel Growth In FY24.
Price targets by 5 other brokers at ComfortDelGro Target Prices.
Listing of research reports at ComfortDelGro Analyst Reports.
Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividends & Corporate Actions,
ComfortDelGro News Articles
