Egypt’s OC close to securing contract to develop Banha-Port Said railway line

Orascom Construction (OC) is the frontrunner for a contract to overhaul the Banha-Port Said railway line at a cost of nearly EGP 5 bn, a source from the Transport Ministry tells Al Mal. The ministry is due to officially announce “within a few days” OC’s financial and technical offers as the winning bid from 11 other offers put forth by local and foreign companies. The government launched the tender to revamp the line last year as part of the ongoing EGP 56 bn plan to overhaul the nation’s railways by purchasing new railcars, improving junctions, and automating signaling systems.