10 companies qualify for final stages of PPP schools project
Ten companies have presented financial and technical offers for the Education Ministry’s PPP schools project, unnamed government sources tell Al Borsa. These include Cairo Development and Investment, Middle East Education Services Group, a consortium of Egypt’s Gezira Academy and Saudi Arabia’s Madinat Al Oloum, Baraem Modern School, and Kuwait’s Excellence for Creativity Company. Orascom Construction’s Concessions Director, Khaled El Degwy, said his company pulled out because the project would require it to partake in the educational element of the project, which is not the company’s area of expertise. Carillion also withdrew from the project because of “increased risk,” as we noted last week. BPE Partners had announced in August that it had decided to back out because the project would not be in line with the company’s strategy. The final list of contending companies will be announced by mid-October, and the contracts for the project will be signed in December.