Orascom Construction, Smart International Schools withdraw from 200 schools project

Orascom Construction and Smart International Schools have allegedly withdrawn frombidding on a state tender to develop 200 schools under a public-private partnership framework, sources tell Al Borsa. The government is expected to announce next week which of 43 bidders will move forward, and the newspaper claims that the Emirates’ Al Madaen and Britain’s Carillion are among the winning companies. The final contracts for the project, which has an investment value of EGP 3 bn, are expected to be signed in May.