{"id":544558,"date":"2022-03-09T03:32:54","date_gmt":"2022-03-09T03:32:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/"},"modified":"2022-03-09T03:32:54","modified_gmt":"2022-03-09T03:32:54","slug":"govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/","title":{"rendered":"Gov\u2019t to pay EUR 150 mn to Alstom consortium for monorail work"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Transport Ministry will soon pay out EUR 150 mn to the Alstom-led <\/strong><strong>consortium implementing the Sixth of October-new capital monorail<\/strong> for recent construction work, <a href=\"https:\/\/bit.ly\/3hRwye4\">Al Mal<\/a> reported, citing sources it claims have knowledge of the matter. This is the second payment to the consortium, which also includes Orascom Construction and Arab Contractors, after it received USD 280 mn from the government in October, the sources reportedly said. The <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/egypt-signs-usd-4-5-bn-agreement-for-monorails-to-giza-and-new-capital\/\">USD 4.5 bn project<\/a> is expected to be completed in May 2023.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>EFG Hermes<\/strong>\u2019 fintech platform <strong>valU<\/strong> has <a href=\"https:\/\/ent.news\/2022\/3\/valU-noon-English.pdf\">partnered (pdf<\/a><a href=\"https:\/\/ent.news\/2022\/3\/valU-noon-English.pdf\">)<\/a> with online marketplace <strong>Noon<\/strong> to provide installment plans for customers.<\/li>\n<li><strong>Contact Financial Holdings<\/strong> <a href=\"https:\/\/hapijournal.com\/?p=178480\">has signed an EGP 100 mn<\/a> factoring agreement providing finance for B2B marketplace <strong><a href=\"https:\/\/www.capiter.net\/\">Capiter<\/a><\/strong>.<\/li>\n<li><strong>Juhayna<\/strong> will temporarily <a href=\"https:\/\/bit.ly\/35WdmZQ\">resume operations<\/a> at the Assiut yogurt factory it shuttered in 2016, as the dairy giant starts preparing for Ramadan when demand is expected to triple.<\/li>\n<li><strong>Abu Dhabi Islamic Bank<\/strong> <a href=\"https:\/\/bit.ly\/3Ks21zK\">will lend<\/a><strong><a href=\"https:\/\/bit.ly\/3Ks21zK\">HoldiPharma<\/a><\/strong><a href=\"https:\/\/bit.ly\/3Ks21zK\">EGP 1 bn<\/a> to bring its meds production up to international standards in a bid to boost exports.<\/li>\n<li><strong>Palm Hills Developments<\/strong> has <a href=\"https:\/\/ent.news\/2022\/3\/%D8%A7%D9%86%D9%83%D9%88%D9%84%D9%8A%D8%B3-%D8%A8%D8%B9%D8%AF-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0-8-3-2022-1.pdf\">acquired (pdf)<\/a> a 7.97% stake in <strong>Incolease<\/strong> in an EGP 65.4 mn transaction.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Transport Ministry will soon pay out EUR 150 mn to the Alstom-led consortium implementing the Sixth of October-new capital monorail for recent construction work, Al Mal reported, citing sources it claims have knowledge of the matter. This is the second payment to the consortium, which also includes Orascom Construction and Arab Contractors, after it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,1249,833,1321,1322,72,1320,1319,1323,7128,363,354,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544558","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-alstom","tag-arab-contractors","tag-capiter","tag-contact-financial-holdings","tag-enterpriseam","tag-holdipharma","tag-incolease","tag-juhayna-monorail","tag-ma-watch","tag-orascom-construction","tag-palm-hills-developments","tag-transport","wpautop","entry"],"acf":{"mongo_id":"d49d26c1-2f02-45ed-93b3-bc2a7f42033e","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[544541],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t to pay EUR 150 mn to Alstom consortium for monorail work - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t to pay EUR 150 mn to Alstom consortium for monorail work\" \/>\n<meta property=\"og:description\" content=\"The Transport Ministry will soon pay out EUR 150 mn to the Alstom-led consortium implementing the Sixth of October-new capital monorail for recent construction work, Al Mal reported, citing sources it claims have knowledge of the matter. This is the second payment to the consortium, which also includes Orascom Construction and Arab Contractors, after it [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-09T03:32:54+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t to pay EUR 150 mn to Alstom consortium for monorail work\",\"datePublished\":\"2022-03-09T03:32:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/govt-to-pay-eur-150-mn-to-alstom-consortium-for-monorail-work\/\"},\"wordCount\":200,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"Alstom\",\"Arab Contractors\",\"Capiter\",\"Contact Financial Holdings\",\"EnterpriseAM\",\"HoldiPharma\",\"Incolease\",\"Juhayna. 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The credit facilities will be issued in two tranches,\u2026","rel":"","context":"In &quot;Infrastructure&quot;","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590195,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/alstom-to-localize-manufacture-of-rolling-stock-electrical-systems\/","url_meta":{"origin":544558,"position":1},"title":"Alstom to localize manufacture of rolling stock, electrical systems","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"The French rail manufacturer plans to invest EUR 300 mn in two new factories on the North Coast","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/573.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544948,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/were-getting-eur-777-mn-from-france-for-metro-line-1\/","url_meta":{"origin":544558,"position":2},"title":"We\u2019re getting EUR 777 mn from France for Metro Line 1","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"France is lending us EUR 777 mn for the Metro Line 1 revamp: We yesterday signed a loan agreement with the French government for EUR 776.9 mn to fund the 55 new trains for Cairo Metro Line 1 being supplied by French manufacturer Alstom, according to a cabinet statement.The terms:\u2026","rel":"","context":"In &quot;Transport&quot;","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/687.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556568,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/cairo-metro-line-1-is-getting-55-new-subway-trains-from-alstom\/","url_meta":{"origin":544558,"position":3},"title":"Cairo Metro Line 1 is getting 55 new subway trains from Alstom","author":"enterpriseam admin","date":"31 October 2021","format":false,"excerpt":"French train manufacturer Alstom will manufacture and supply 55 new trains for Cairo Metro Line 1 under a contract approved by ministers last week, the cabinet said in a statement following its weekly meeting. The company will also carry out maintenance work and supply spare parts for eight years, the\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571686,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/20\/orascom-and-bombardier-break-ground-on-usd-4-5-bn-new-capital-nasr-city-monorail\/","url_meta":{"origin":544558,"position":4},"title":"Orascom and Bombardier break ground on USD 4.5 bn new capital-Nasr City monorail","author":"enterpriseam admin","date":"20 May 2020","format":false,"excerpt":"Orascom, Bombardier, Arab Contractors begin construction of new capital-Nasr City monorail: Orascom Construction, Canada\u2019s Bombardier Transportation, and Arab Contractors have broken ground on the USD 4.5 bn new administrative capital monorail project, which will connect East Cairo to the new capital, according to a company statement. The company did not\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575202,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/jpmorgan-disburses-first-loan-tranche-for-monorail-project\/","url_meta":{"origin":544558,"position":5},"title":"JPMorgan disburses first loan tranche for monorail project","author":"enterpriseam admin","date":"6 October 2020","format":false,"excerpt":"DEBT WATCH- Egypt just got the first USD 332 mn tranche of a loan from JPMorgan to finance the construction of two monorail lines, one linking the new administrative capital to Cairo Stadium Station and the other linking Gameat El Dewal Station to Sixth of October, Al Mal reports, citing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/57.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544558"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544558\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544541"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544558"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544558"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}