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English news

20-Jul-2016

Cairo Metro prequalifies firms for Line 4

The National Authority for Tunnels (NAT) has prequalified four Japanese firms to bid for three separate contracts for the first phase of Cairo Metro Line 4. Two firms were prequalified for the civil works packages, namely, Shimizu Corporation and Taisei Corporation. Two other firms, Sojitz Corporation and Mitsubishi Corporation, were prequalified for the rolling stock package. The NAT is expected to award the consultancy contract for this phase to Nippon Koei, the only firm that submitted an offer for the deal. This will be followed by the release of the tender for the four packages of the first phase, which will be funded by Japan Bank for International Cooperation (JBIC). The evaluation of prequalification documents is still ongoing for the fourth package, which will comprise the rail systems. Groups that have submitted prequalification documents for the systems package include: i) Mitsubishi / Orascom Construction; ii) Marubeni (Japan); iii) Hitachi / Sumitomo (Japan); and iv) Toyo / Mitsui (Japan). Line 4 will be constructed on two phases and will run for 43km from the West to the East of Cairo. It will connect Sixth of October City and the New Cairo to the existing metro network. (MEED)   Orascom Construction Limited: EGP53.41 as of 19 July 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD710mn, ORAS EY / ORAS.CA

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