Chairman calls multi-phase 95km project as a ‘gamechanger’ for public transport
A consortium of companies has been appointed by the Government of Egypt to design and build its Cairo Monorail project. The appointment comes following a tender process that was supported by Khatib & Alami (K&A).
According to a statement, K&A and its partners Getinsa, TEGC and Sarie Eldin & Partners, worked with the Ministry of Transport and Ministry of Housing to secure the best financing structure for the project.
As part of their role as lead government transaction advisors on the construction, financing and operations of the transportation project, the firms developed early feasibility studies across financial, technical and legal disciplines, and enabled the Ministries to run what’s billed as a complex end-to-end tender process involving international and regional bidders.
“We are proud to have worked closely with our clients for over a year on this important project that will be a game changer for public transport in Cairo. Our focus was on getting best value for money to the Government of Egypt, and a transport solution which truly helps with the country’s public transport needs,” said Dr Najib Khatib, chairman and CEO of K&A.
Bombardier Transportation, Orascom Construction and Arab Contractors were selected to deliver the two monorail lines in Egypt’s capital. Once the project has been delivered, the consortium will operate and maintain both lines for 30 years. The agreement is subject to final signatures of supplementary documents, the statement said.
Helena De Flaviis, senior director and head of K&A’s Infrastructure Development & Advisory business added, “The scale of this project clearly demonstrates our success in building our capabilities as a provider of world-class financial, technical and legal advisory services. We look forward to supporting other transport authorities in the region with their public transport financing challenges.”
According to a statement from K&A, the monorails will be able to transport 45,000 passengers per-hour in either direction and will transform the quality of life of people in Cairo by reducing their daily commuting time, while also providing economic, health and air quality improvements associated with a reduction in traffic congestion.