A joint venture of Orascom Construction and Arab Contractors has been awarded a EUR 590mn ($160mn) contract for a new phase of Cairo Metro Line III.
The joint venture will be responsible for the full scope of phase 4B, which will stretch 6.1 km across a viaduct and five elevated stations.
Orascom’s share of the contract amounts to approximately EUR 295mn.
Phase 4B follows the Group’s previously announced contract awards for the third line of Cairo Metro.
The Group is currently executing contracts amounting to approximately EUR 375mn for Phase III and EUR 90mn for Phase 4A.