The National Tunnel Authority has awarded a consortium of French and Egyptian companies the EGP 410 mn tender to design and restore the Raml tram in Alexandria, according to Al Mal. The alliance — made up of France’s Systra and Egis Rail and Egypt’s ACE Moharram Bakhoum and Projacs — beat offers from two other consortiums: one consisting of Egypt’s Menarail and France’s Artellia Ville & Transport and Ingerop, and the other of Spain’s Sener Ingenieria Y Systemas, France’s Setec Group and Lebanon’s Khatib & Alami, according to Meed.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
Why EGX stocks are going under the IPO wave
Fund managers are releasing liquidity for ongoing and future IPOs,…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…