{"id":557128,"date":"2021-09-07T04:00:15","date_gmt":"2021-09-07T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/"},"modified":"2021-09-07T04:00:15","modified_gmt":"2021-09-07T04:00:15","slug":"a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/","title":{"rendered":"A queue of companies want the Abu Qir metro project + Speed Medical plans buyback as share price falls"},"content":{"rendered":"<p><strong>The Transport Ministry is considering 16 local and international consortiums to <\/strong><strong>implement Alexandria\u2019s Abu Qir metro project<\/strong>, unnamed sources at the ministry told <a href=\"https:\/\/bit.ly\/38KzMLF\">Al Mal<\/a>. The consortiums include Egypt\u2019s ElSewedy Electric-Siemens, Orascom-Arab Contractors as well as India\u2019s Larsen & Toubro and South Korea\u2019s Hyundai Rotem, Spain\u2019s Construcciones y Auxiliar de Ferrocarriles, Italy\u2019s WSPHT, China\u2019s NORINCO International, Japan\u2019s Hitachi Group and a French-Egyptian consortium led by Alstom, among others.<\/p>\n<p><strong>Speed Medical will buy back 20 mn shares in a bid to support its share price<\/strong>, which has come under pressure since the end of its bid for Prime Speed. The company\u2019s shares have fallen more than 25%<sup><\/sup> since the end of August when <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd42a6b4-c0fc-4b31-b54a-d58ce34e90ac\">relations between the two companies broke down<\/a>, with Speed publicly airing a list of grievances against Prime and closing the door on its takeover bid. The company will now buy back shares amounting to 1.8% of its capital, it announced in <a href=\"https:\/\/ent.news\/2021\/9\/Speed-Medical.pdf\">a disclosure (pdf)<\/a> yesterday, a transaction that based on yesterday\u2019s share price would cost EGP 34.4 mn. The company\u2019s share price fell 13.5% yesterday to EGP 1.72.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Transport Ministry is considering 16 local and international consortiums to implement Alexandria\u2019s Abu Qir metro project, unnamed sources at the ministry told Al Mal. The consortiums include Egypt\u2019s ElSewedy Electric-Siemens, Orascom-Arab Contractors as well as India\u2019s Larsen &#038; Toubro and South Korea\u2019s Hyundai Rotem, Spain\u2019s Construcciones y Auxiliar de Ferrocarriles, Italy\u2019s WSPHT, China\u2019s NORINCO [&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":[111,68,72,551,162,208],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557128","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-egx","tag-enterpriseam","tag-speed-medical","tag-sports","tag-transport-ministry","wpautop","entry"],"acf":{"mongo_id":"13780561-2a9a-49d9-a32a-a23f63795b85","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[557111],"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>A queue of companies want the Abu Qir metro project + Speed Medical plans buyback as share price falls - 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\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A queue of companies want the Abu Qir metro project + Speed Medical plans buyback as share price falls\" \/>\n<meta property=\"og:description\" content=\"The Transport Ministry is considering 16 local and international consortiums to implement Alexandria\u2019s Abu Qir metro project, unnamed sources at the ministry told Al Mal. The consortiums include Egypt\u2019s ElSewedy Electric-Siemens, Orascom-Arab Contractors as well as India\u2019s Larsen &amp; Toubro and South Korea\u2019s Hyundai Rotem, Spain\u2019s Construcciones y Auxiliar de Ferrocarriles, Italy\u2019s WSPHT, China\u2019s NORINCO [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-07T04:00:15+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\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"A queue of companies want the Abu Qir metro project + Speed Medical plans buyback as share price falls\",\"datePublished\":\"2021-09-07T04:00:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/\"},\"wordCount\":201,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"EGX\",\"EnterpriseAM\",\"Speed Medical\",\"sports\",\"Transport Ministry\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/07\/a-queue-of-companies-want-the-abu-qir-metro-project-speed-medical-plans-buyback-as-share-price-falls\/\",\"name\":\"A queue of companies want the Abu Qir metro project + Speed Medical plans buyback as share price falls - 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for the EUR 1.6 bn project to convert Alexandria\u2019s Abu Qir railway into an underground metro,\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\/12\/485.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581702,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/20\/offers-roll-in-to-build-the-eur-1-6-bn-alexandria-metro-project\/","url_meta":{"origin":557128,"position":1},"title":"Offers roll in to build the EUR 1.6 bn Alexandria metro project","author":"enterpriseam admin","date":"20 February 2023","format":false,"excerpt":"Three consortiums of local and international contractors have submitted final bids","rel":"","context":"In 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&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\/2026\/2\/99.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590197,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project\/","url_meta":{"origin":557128,"position":3},"title":"AIIB to provide EUR 250 mn loan for Abu Qir metro project","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"This is around a sixth of the EUR 1.6 bn project, which will convert the Abu Qir railway into an underground metro line","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\/2023\/7\/551.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591748,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/16\/world-bank-ebrd-to-lend-egypt-usd-1-bn-for-new-alexandria-metro-line\/","url_meta":{"origin":557128,"position":4},"title":"World Bank, EBRD to lend Egypt USD 1 bn for new Alexandria metro line","author":"enterpriseam admin","date":"16 December 2019","format":false,"excerpt":"World Bank, EBRD to lend Egypt USD 1 bn for new Alexandria metro line: The World Bank and the European Bank for Reconstruction and Development have agreed to provide a USD 1 bn loan to partially finance the project to convert Alexandria\u2019s Abu Qir railway into an underground metro, sources\u2026","rel":"","context":"In &quot;Speed 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