Orascom Construction said on Tuesday it has signed two contracts involving rail works in Egypt, its second major deal in the Arab country in two months.

In a disclosure statement on Egypt’s bourse, the Company said it has signed the two new agreements with the National Authority for Tunnels (NAT).

The first contract is for all civil works for Greater Cairo Metro Line 4, which will run underground from Giza to Fustat (Old Cairo) and connect to existing Lines 1 and 2, the statement said, adding that a significant portion of this project will be funded by the Japan International Cooperation Agency (JICA). 

Under the second contract, Orascom Construction will lead a joint venture to execute the Mechanical, Electrical and Plumbing works for all stations of the first line of the new high-speed rail system in Egypt, which will run from Northeastern Ain Sokhna city to Marsa Matrouh in the Northwest, it added without mentioning contract value.

The company is part of the consortium executing the Railway Systems, Track and Depot Works Package (CP411) for Cairo Metro Line 4, and for the design, installation, commissioning and maintainenance of Egypt's high-speed railway project.

In early September, Orascom said its consortium with the Paris-based Thales Group has won a contract to modernize and upgrade the Cairo-Beni Suef railway corridor.

Read more: Egypt signs multiple agreements for developing its railway sector

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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