Orascom to construct new metro project in Alexandria worth 1.3 billion euros ...Egypt

The Orascom Construction consortium in Egypt and Colas Rail signed an engineering, procurement and construction contract with the National Authority for Tunnels to construct a new metro project in Alexandria worth 1.3 billion euros. An Orascom statement to the Egyptian Stock Exchange on Thursday said that the project will extend for 21.7 kilometers and includes 20 stations to connect downtown Alexandria with the northeastern city of Abu Qir. Financing will be provided by the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the French Development Agency (AFD), and the Asian Infrastructure Investment Bank (AIIB), the statement added. The company no

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