Orascom Construction shares $900M of Egypt’s monorail contracts



Mon, 05 Aug 2019 - 03:14 GMT


Mon, 05 Aug 2019 - 03:14 GMT

Orascom building- REUTERS- Mohamed Abd El-Ghany

Orascom building- REUTERS- Mohamed Abd El-Ghany

CAIRO – 5 August 2019: Orascom Construction, Bombardier Transportation, and Arab Contractors signed an agreement Monday with the National Authority for Tunnels in Cairo to design and build two new monorail lines in Egypt.

Orascom Construction clarified in a filing to the Egyptian Exchange (EGX) that the consortium will be responsible for the operation and maintenance (O&M) of both lines for 30 years on the completion of the construction phase.

The total value of the design, build and O&M contract exceeds $4.5 billion (EUR 4.1 billion). Bombardier Transportation’s share is $2.85 billion (EUR 2.6 billion) and Orascom Construction’s share is close to $900 million. “The agreement is subject to final signatures of supplementary documents.”

“To be selected as the monorail system supplier in Egypt is a great privilege and our fully-automated monorail system is the smart mobility solution for Cairo’s urban future,” President of Bombardier Transportation, Danny Di Perna said.

“Our INNOVIA Monorail 300 technology has proved to be a game changer in the industry, as it allows fast construction of high capacity transit lines at lower costs. With its advanced technology, unmatched safety features and attractive aerodynamic design, this proven platform will dramatically improve the quality of life for millions of residents by significantly reducing their daily commuting time as well as reducing traffic congestion and its impact on the city,” he added.

For his part, Chief Executive Officer of Orascom Construction PLC Osama Bishai said that his company continues to play an integral role in the development of Egypt’s infrastructure, and is proud to be part of this prestigious project to build mass transportation across Cairo, the New Administrative Capital, Giza and 6th of October City.

“We are very pleased to collaborate with our international partner Bombardier and our local partner Arab Contractors on this project, which highlights our strength in the transportation sector and emphasizes our position as the partner of choice for international contractors in Egypt particularly on challenging projects,” Bishai added.
The filing clarified that this project supports Cairo and Egypt to enable fast, sustainable, comfortable and above all safe transportation for millions of people every year in the dynamic Cairo metropolitan area.

It elaborated that the first monorail line will extend 54 km from East Cairo to the New Administrative Capital. The second line will be 42 km long to connect 6th October City to Giza. “These are the first mass transit links to connect Greater Cairo with the New Capital and 6 October City and will greatly improve mobility for Egyptian citizens."

The two lines will be able to transport around 45,000 passengers per hour in each direction when ultimate capacity is reached. With operating speeds of up to 80 km/h; the journey time for the new Capital will be around 60 minutes (for 54 km line) and around 42 minutes for 6 October City (42 km line), according to the company.

According to the filing, Orascom Construction will design and build all infrastructure and civil works, including stations, guide way structures and new depot buildings.

Earlier on Monday, Ministry of Transportation and Train and plane manufacturer Bombardier signed contracts of Monorail in the New Administrative Capital and Sixth of October City in the presence of Prime Minister Mostafa Madbouli.

A monorail is a rail transportation system based on a single rail, which acts as its sole support and its guide way, according to rail system.



Leave a Comment

Be Social