Orascom Will Construct New Metro in Alexandria for USD 1.39 Billion
The metro hopes to modernise Alexandria’s transport system and relieve congestion along the city’s main routes.
The city of Alexandria is getting a new metro system connecting the downtown area with Abu Qir, covering 21.7 kilometres with over 20 metro stations. At a cost of USD 1.39 billion, the project hopes to modernise public transportation with a green, efficient option while reducing congestion in the city’s main routes.
The project is the result of a partnership between Orascom Construction, the National Authority for Tunnels, and French engineering firm Colas Rail. French technology firm Thales will be in charge of the project’s telecommunications, signalling and automatic fare collection packages.
The funding for the project will be provided by several financial institutions including the European Investment Bank, the European Bank for Reconstruction and Development, L’Agence Française de Développement and the Asian Infrastructure Bank.
Orascom Construction is one of the region’s major transportation infrastructure providers; their portfolio includes high-speed rail, metro, monorail, railway and light rail transport infrastructure spanning 3,500 kilometres in Egypt and the MENA region.
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