06 November, 2023
Orascom Construction PLC (Nasdaq: OC; EGX: ORAS) announces that it has signed two contracts with the National Authority for Tunnels to build two major transportation projects in Egypt.
The first contract is for all civil works for Greater Cairo Metro Line 4 – Package CP402, which will run underground from Giza to Fustat and connect to existing Lines 1 and 2. A significant portion of this project will be funded by the Japan International Cooperation Agency (JICA).
Under the second contract, Orascom Construction will lead a joint venture to execute the Mechanical, Electrical and Plumbing (MEP) works for all stations of the first line of the new high-speed rail system in Egypt, which will run from Ain Sokhna to Marsa Matrouh.
These two new contracts build on the Group’s existing main roles on both projects. Orascom Construction had previously announced that its consortiums will execute the Railway Systems, Track and Depot Works Package (CP411) for all of Cairo Metro Line 4, and will design, install, commission and maintain the full high-speed rail system.
These projects reinforce Orascom Construction’s leadership in the transportation sector. The Group’s current and past projects include major projects such as high-speed rail, metro, monorail, railway, and light rail transit across over 3,500 km in Egypt and the Middle East.