France’s Alstom withdraws from EUR 380 mn metro contract
France’s Alstom has walked away from a EUR 380 mn contract it was due to sign with the Transport Ministry within days to manufacture and supply 32 metro cars for the third and fourth phases of Cairo Metro Line 3, ministry sources told Al Mal. The government will hold on to insurance payments made by Alstom earlier in the tender process, but will not take any legal action due to the lack of a binding contract, the sources said. The contract was part of a tender launched in 2014 for 64 metro cars. The first half was awarded to Hyundai Rotem, which will begin deliveries in May 2020. It remains unclear whether the ministry will launch another tender.