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Egypt's Orascom to construct USD1.5b monorail in Egypt
(MENAFN) Orascom, the Egyptian Construction firm, and the Canadian Bombardier Inc are set to construct a USD1.5 billion monorail close to Cairo, according to Egypt's housing minister, Reuters reported.
The single-track railway project is set to be 52 kilometers in length and is expected to be finalized by June 2018. The entire rail enjoys a financing of a 14-years loan, the minister added.
The project is part of the overall expansion of the Cairo metro system, which is being improved in hopes of reducing traffic congestion in streets.
The single-track railway project is set to be 52 kilometers in length and is expected to be finalized by June 2018. The entire rail enjoys a financing of a 14-years loan, the minister added.
The project is part of the overall expansion of the Cairo metro system, which is being improved in hopes of reducing traffic congestion in streets.
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