Bombardier Transportation says consortium finalizing Cairo monorail contract

MONTREAL – Bombardier Transportation says its consortium with Egypt’s Orascom Construction is finalizing discussions with the Egyptian government to build a US$1.5 billion monorail near Cairo.

Over the weekend, Egypt’s housing minister said Bombardier and Orascom will build the 52-kilometre project by mid-2018.

Spokesman Marc Laforge says discussions are ongoing but the contract has yet to be awarded.

The above-ground Innovia Monorail 300 would connect the Cairo metro system to the western outskirts including 6 October City, Sheikh Zayed and Giza.

Laforge declined to provide the potential value of Bombardier’s (TSX:BBD.B) share of the project.

The automated driverless monorail can travel up to 80 kilometres per hour, carrying as many as 48,000 passengers per hour in each direction.

Bombardier is currently installing the system in the King Abdullah Financial District in Riyadh, Saudi Arabia, and in Sao Paulo, Brazil.