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English news

30-Jun-2016

Dubai awards AED10.6bn Expo metro construction contract

The Roads & Transport Authority (RTA) has awarded the contract to design and build the AED10.6bn route 2020 metro link, connecting to the Expo site, known as Route 2020. The winning consortium is composed of: Acciona (Spain), Gulermak (Turkey), and Alstom (France), which was competing against one other shortlisted bidder, a consortium of Obayashi (Japan), Consolidated Contractors Company (CCC, Athens) and Mitsubishi Heavy Industries (Japan). This is out of a pool of five bidding consortia. The other three were composed of: i) Nurol / Astaldi / Construcciones y Auxiliar de Ferrocarriles; ii) Mapa Gunal (Turkey) / China Railway Group (China) / CSR Corporation (China); and iii) Orascom (Egypt) / Yapi Merkezi (Turkey) / GS Engineering & Construction (South Korea) /Siemens (Germany). (MEED)   Orascom Construction Limited: EGP52.91 as of 29 June 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD703 million, ORAS EY / ORAS.CA

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