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English news

07-Feb-2018

Up to 23 international companies bidding on monorail projects

Up to 23 international companies have submitted their bids to finance, build and operate the 6th of October-Giza and Nasr City-New Cairo Capital (NCC) monorail projects, as well as the Alamein-Ain Sokhna electric train project, all which had been tendered by the ministries of housing and transport. The list of bidders included eight Chinese companies and seven Turkish ones, in addition to an Iranian company and a number of JVs, composed of Russian, Italian and Kazakhstani companies. Egyptian companies Wady Al Nil Contracting and Orascom Construction (OC) will reportedly seek sub-contracting roles on the projects.
 
Orascom Construction Limited: EGP151.63 as of 6 Feb. 2018, Rating: Neutral, TP: EGP116.00/share, MCap: USD1,005mn, ORAS EY/ORAS.CA
 

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