Hyundai Rotem lands EUR 350 mn contract to supply metro cars
Hyundai Rotem lands EUR 350 mn contract to supply metro cars: The National Authority for Tunnels signed a c.EUR 350 mn agreement with Hyundai Rotem to supply 32 air-conditioned cars for the Cairo Metro lines Three and Four on Thursday 22 June, according to a statement from the Ismail cabinet. 30% of the order will be assembled and manufactured domestically, said Transportation Minister Hisham Arafat. The order makes up half of the 64 cars the government plans to get for the new metro lines, Arafat added. The agreement follows a USD 575 mn contract with General Electric to supply 100 locomotives.
Meanwhile, the National Railway Authority (NRA) is in talks with potential suppliers to manufacture 1,000 train cars instead of the previously agreed-upon 700, sources from the authority tell Al Borsa. The move is part of the NRA’s plan to supplement its train car fleet with 300 new locomotives over the next five years. Minister Arafat had previously said that it was deliberating two rival bids from Italy and Hungary for the 700 cars, and that Italian companies offered to supply the train cars 30% cheaper than the nearest offer. The NRA expects to complete its negotiations before year-end.