Dr Fox is currently on a four-day visit to Egypt, Morocco and Tunisia to highlight the wealth of opportunities for trade and investment in the region.
The total value of the engineering procurement and construction deal is about €2.8 billion of which the BT value is roughly 50%. In addition, there is an operations and maintenance deal with a value of about €1.6 billion.
The monorail system is a 54km line connecting the New Administrative Capital with East Cairo and a 42km line connecting 6th October City with Giza.
Phil Hufton, president UK, Bombardier said: “Being named as preferred bidder for the Cairo Monorail is excellent news for Bombardier and for our teams in the UK and in Egypt. It shows that the British rail industry is world class and can compete and win in global markets. We welcome the Government’s support for our bid.”
The project involves both the civil engineering of the monorail infrastructure, as well as manufacturing of the cars themselves, at Bombardier’s Derby facility in the UK for export to Egypt.
The bid is supported by UK Export Finance (UKEF). Bombardier will deliver the project in partnership with two Egyptian companies; Orascom Construction and the Arab Contractors.
The project will involve investing in a new, dedicated monorail production line in Derby able to build the monorail cars between 2021 and 2024.
Adding monorail capability also shows the versatility of the 88-acre site, able to build the cars in addition to currently building the cutting-edge AVENTRA train for TfL and for UK franchises.
Following the announcement of the preferred bidder, the winning consortium and the Egyptian Government will start contract negotiation for the engineering procurement and construction contract to reach successful contract signature and will work together with the financing institutions to achieve financial close and sign the financing deal agreement between the Egyptian Government and the Financing Institutions. Successful achievement of both events will lead to the formal commencement of the contract execution.
Bombardier Transportation www.bombardier.com/en/transportation
