Mitsubishi Heavy shares rise on $3.4 bln Qatar subway deal
Mitsubishi Heavy Industries' shares rose Monday morning after a consortium led by Japan's top heavy machinery maker struck a $3.36 billion deal to build Qatar's first subway system. The Tokyo-listed stock climbed 1.21 percent to 658.0 yen ($5.50) on news the five-member consortium, which includes Hitachi and French defense contractor Thales, had received the order from Qatar Railways to build "Doha Metro". The deal to build the nation's first subway system in Qatar's capital is worth 400 billion yen ($3.36 billion), a Mitsubishi Heavy spokesman said. The metro system -- covering 241 kilometres (150 miles) with 106 stations -- will connect the main areas of Doha, including the Hamad International Airport, the Old City and newly developing inner city areas such as West Bay and Lusail, they said.
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