Orascom Construction (OC) announced that its wholly owned subsidiary The Weitz Company (Weitz) was appointed by rail technology leader Bombardier Transportation as the design-build contractor for the Stage 2 extension to the PHX Sky Train guideway and maintenance facility at Phoenix Sky Harbor International Airport in Arizona. The new project aims to capitalise on the previous joint success of the Bombardier-Weitz team that constructed the existing guideway system (Stage 1 and 1A) at Arizona’s largest airport. The scope of work associated with Stage 2 covers a 2.5-mile extension to the airport’s Rental Car Center, two new stations and an expansion of the system’s maintenance facility to accommodate Stage 2 operations and train maintenance. In addition, 24 cars will be added to the fleet along with upgrades to work completed during Stage 1. Design of Stage 2 began in April and will continue through Feb 2019, when construction is scheduled to start. The extension is expected to open in 2022. The size of the contract was not disclosed. We estimate USD2.6bn in total awards for OC in 2018, USD600mn of which to come from Weitz. 
 
Orascom Construction Limited: EGP161.66 as of 16 May 2018, Rating: Neutral, TP: EGP162.00/share, MCap: USD1,053mn, ORAS EY/ORAS.CA
Mai Attia