Thursday 21 January 2021

Orascom-Mitsubishi consortium wins $800m Cairo metro contract

CAIRO, December 1, 2020

Egypt-based Orascom Construction said its consortium with Mitsubishi Corporation has secured a major contract from the National Authority for Tunnels (NAT) to execute the railway systems, track and depot works package for the first phase of Cairo Metro Line 4.
The total value of the turnkey contract is $800 million, of which Orascom Construction’s share exceeds $350 million, said the company in a statement.
The scope of work includes signaling, power supply, telecommunication, platform screen door, automatic fare collection, track work and the depot/workshop, it stated.
Cairo Metro Line 4 will be constructed as a new underground line and is a mass rapid transport system that is expected to reduce traffic congestion. 
Phase One will stretch across 19 km and 16 stations, connecting the center of Greater Cairo to the pyramids area in Giza. It is also expected to be a main metro line for tourism transportation in Egypt, arriving up to the pyramids area and the Grand Egyptian Museum (which is under construction by Orascom Construction and Besix).
The project is being funded by a Japanese Yen Credit Loan provided by the Japanese International Corporation Agency (JICA) under the condition of the Special Technical Economic Partnership (STEP), which is the first time to be implemented in Egypt.
On the contract win, CEO Osama Bishai said: "This contract is testament to Orascom Construction's strength in the transportation sector and builds on our longstanding involvement in the development of Cairo Metro."
"We are pleased to partner with Mitsubishi Corporation on this new line which will be receiving funding from the Japanese International Corporation Agency and to collaborate once again with our repeat client, the NAT. This project also positions us for future work in this sector, ranging from new phases of Cairo Metro to new railway projects," he added.
Orascom Construction recently delivered Cairo Metro Line 3 Phase 4B which stretched across 8km and included five elevated stations and a depot, and is currently executing the world’s longest monorail system and the Light Rail Transit project in Egypt.-TradeArabia News Service


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