Back to the complete issue
Sunday, 12 January 2020

Egypt’s OC close to securing contract to develop Banha-Port Said railway line

Orascom Construction (OC) is the frontrunner for a contract to overhaul the Banha-Port Said railway line at a cost of nearly EGP 5 bn, a source from the Transport Ministry tells Al Mal. The ministry is due to officially announce “within a few days” OC’s financial and technical offers as the winning bid from 11 other offers put forth by local and foreign companies. The government launched the tender to revamp the line last year as part of the ongoing EGP 56 bn plan to overhaul the nation’s railways by purchasing new railcars, improving junctions, and automating signaling systems.

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. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank 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; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.