Nasdaq-listed Orascom Construction announced on Monday that its consortium with Colas Rail and Hitachi Rail has signed a contract worth 800 million euros with the National Authority for Tunnels (NAT) to modernise Cairo Metro Line 1.

Colas Rail and Orascom Construction will modernise the electric power supply, catenary and electromechanical systems in stations, tunnels and on the rail track, along with related civil works while Hitachi Rail will modernise the signaling, control and telecommunications infrastructure, Orsacom said in a press statement.

It said the project aims to enhance efficiency and increase capacity of Line 1, which stretches across 44 km, connecting 35 stations and transporting more than 1.5 million people per day

Work will commence in October 2024 and last for 64 months, the statement said, adding that the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and L’Agence française de développement (AFD) are funding the project. Orascom Construction’s share of the contract is 35 percent.

The company is currently working on Line 4 of Cairo Metro and the new regional metro in Alexandria.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.