Cairo – Mubasher: Orascom Construction Limited (OC) has been awarded two extra contracts worth EUR270 million for executing the civil and track work of the third phase of Cairo Metro Line III, according to a press release.
Thus, OC’s share of the third phase of Cairo Metro Line III is increased to EURO 375 million, that will be financed by French and European entities, the press release indicated.
The additional contracts will be completed by Egyptian-French consortiums, while Orascom will be responsible for the civil package in association with VINCI, Bouygues and Arab Contractors. It will also be assigned to the track works package in a consortium with TSO (NGE Group) and ETF, a subsidiary of Eurovia.
Osama Bishai, CEO of Orascom Construction, commented, “We are pleased to expand our market share in the transportation sector and particularly the Cairo Metro program. We remain focused on adding quality contracts to our backlog that will lead to healthy returns for our shareholders.”
