| Work Detail |
The National Authority for Tunnels (NAT) of Egypt has signed a contract with a consortium formed by Orascom Construction, Siemens Mobility and Arab Contractors for the development of a high-speed rail system. The total contract value is around USD4.5 billion.
The selected consortium will design, install, commission and maintain the rail system on an EPC+ Finance basis. The scope of works includes the track works, signaling and overhead catenary, telecommunication system and traction power substations. The projects maintenance involves the track works and telecommunication system during a period of 15 years. Financial close is expected to take place in 2022.
The project will be the first high-speed rail system for 15 years in Egypt. It covers a 660 km high-speed, electrified main and freight rail line, connecting the port cities of Ain Sokhna on the Red Sea to Alexandria and Marsa Matrouh on the Mediterranean Sea. Once operational, the rail line will transport more than 30 million people annually and save up to 50% travel time. The project will directly create 15,000 jobs with an additional 3,800 at Egyptian suppliers.
Osama Bishai, CEO of Orascom Construction, said: “We are proud to be part of this landmark, transformational project. We are also proud to continue our successful collaboration with the Ministry of Transportation, National Authority for Tunnels, and our long-term partners Siemens and Arab Contractors.” |
