A consortium of Egypt-based Orascom Construction (OC) and Japanese conglomerate Mitsubishi Corporation was awarded a USD 800 mn (EGP 12.5 bn) contract to execute work on the first phase of the Cairo Metro Line IV, Invest-Gate reports.
Under the deal, which was inked with the National Authority for Tunnels (NAT), work scope includes signaling and building on-site railway systems and telecommunications, along with a track and depot work package, a statement by Orascom Construction read on Tuesday.
The project will be funded through JPY-denominated credit from the Japan International Cooperation Agency (JICA), with OC’s share of the turnkey contract valued at USD 350 mn (EGP 5.5 bn).
Phase 1 of Cairo Metro Line IV is a 19-kilometer underground line, connecting the El Malek El Saleh Station in Downtown Cairo with Giza Hadayek El Ashgar through 16 stations. It will allow passengers to transfer to Line I at the former stop and Line I at Giza Station, facilitating their movement and alleviating dense road traffic.
Recently, OC had delivered Cairo Metro Line III Phase 4B, stretching over eight kilometers in length and including five elevated train stations and a depot. The Egyptian construction company is currently executing the world’s longest monorail system and Egypt’s first Light Rail Transit (LRT) project.