June 21, 2009 / 1:09 PM / 10 years ago

Egypt's OCI says wins $140 mln Cairo metro deals

CAIRO (Reuters) - Egypt’s Orascom Construction Industries (OCI) said on Sunday it had won contracts worth $140 million for work on Cairo’s third metro rail line.

The contracts for the second phase of the development cover civil, electromechanical and railway works, the firm said. The new line, which will run from Imbaba in Cairo’s northeast to Heliopolis in the northwest, is due for completion in the fourth quarter of 2013.

A joint venture between OCI, French firms Vinci and Bouygues , and Egypt’s Arab Contractors is constructing all civil works relating to the project, including tunnels and stations.

The second phase is a 7 km stretch of track with 4 km of underground tunnelling and five stations, OCI said.

Commenting on the contracts, OCI chief executive Nassef Sawiris said the firm had gained from an increase in government spending on infrastructure.

“The Egyptian Ministry of Transportation has accelerated completion of the metro line as part of a massive infrastructure spending program,” OCI chief executive Nassef Sawiris said.

Orascom won a $180 million contract for work on the first phase of the expansion in 2007.

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