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Egypt’s Orascom construction is currently in talks with the Egyptian government to establish Sixth of October-New Capital Monorail Project.
No agreement has been reached yet, the company said in a statement to the stock exchange on Monday, responding to published reports stating that a consortium led by Orascom has been chosen to construct the new project.
The consortium, which also includes Arab Contractors and Canada’s Bombardier, is still in talks to establish two high-speed monorail lines with lengths of 52km and 42 km.
Moreover, Orascom logged a net profit of $33.7 million during the first quarter of this year from $35 million during the same period in 2018.
Source: Mubasher