Back to the complete issue
Sunday, 2 July 2017

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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.