Gezhouba-led consortium submits USD1.1bn bid for monorail project
A consortium consisting of China Gezhouba Group, Petrojet, Concord Engineering, and CRRC Corporation is reported to have submitted a USD1.1bn bid for the monorail project linking Six of October City to Giza, according to Ezzeldin Gawary, Gezhouba Egypt representative. A consortium between Orascom Construction (OC), Bombardier Inc. and Arab contractors submitted its USD1.5bn bid on the project in May 2015, with talks over execution and funding still ongoing. (El Shorouk, Enterprise) Orascom Construction Limited: EGP60.05 as of 07 August 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD798mn, ORAS EY / ORAS.CA
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