Cairo – Mubasher: A consortium comprising Orascom Construction Plc, Canada’s Bombardier Transportation, and Arab Contractors signed a contract with the Cairo-based National Authority for Tunnels to design and construct two new monorail lines in Egypt.
The design, build, operation, and maintenance deal is valued at more than $4.5 billion, of which Bombardier holds a share of $2.85 billion, while Orascom Construction’s share is nearly $900 million, according to a statement to the Egyptian Exchange (EGX) on Monday.
Upon completion of the construction stage, the consortium will work on operating and maintaining the two high-speed monorails for a period of 30 years.
A 54-kilometre monorail line will connect Nasr City to the New Administrative Capital, while the other 42-kilometre line will link 6th of October City to Giza.
“Orascom Construction will design and build all infrastructure and civil works, including stations, guideway structures and new depot buildings,” the statement added.
As for Bombardier, the company “will design, supply, and install the electrical and mechanical (E&M) equipment for the two lines including 70 four-car BOMBARDIER INNOVIA Monorail 300 trains (280 cars).”
BOMBARDIER CITYFLO 650 signaling and automatic train control technology will also be supplied and installed.
The two lines are expected to transport about 45,000 passengers every hour in each direction in case of ultimate capacity.
During the first quarter of 2019, Orascom construction Plc, listed on the EGX and Nasdaq Dubai, previously reported a 3.7% year-on-year drop in its consolidated profits in Q1-19, logging $33.7 million, compared to $35 million.
Year-on-year, revenues fell to $705.6 million in the January-March period of 2019 from $756.8 million.
As for standalone business, the company turned to a profit of $1.8 million in Q1-19, versus losses of $1.04 million in Q1-18.
