The National Authority for Tunnels (NAT) has stated that the planned monorail to link 6th of October City and Sheikh Zayed City to central Cairo has not been cancelled or postponed, adding that the offers made in 2015 by two consortia, one led by Canada’s Bombardier (with Orascom Construction) and the other by China Gezhouba Group Corporation (CGGC), are still under evaluation. The project is estimated to cost a minimum of USD1.5bn; the planned 52-kilometre monorail is to be procured via direct negotiations rather than an open tender. The project was being supervised initially by the Ministry of Housing, Utilities and Urban Development, which announced in May 2015 that it had commissioned the Canadian-led team to build the project. Egypt’s Ministry of Transport (MoT) subsequently took over the scheme in late 2015, and said it would be working closely with the Housing Ministry on the implementation. CGGC subsequently made its offer. (MEED)   Orascom Construction Limited: EGP56.30 as of 02 June 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD748 million, ORAS EY / ORAS.CA