BBD.B Bombardier Inc

Note to editors: To view the photo associated with this press release, please visit the following link: https://www.globenewswire.com/NewsRoom/AttachmentNg/0da4133b-7949-4b9e-8628-609d5a1c6a6e 

Bombardier Transportation, Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) and Arab Contractors have signed an agreement today with National Authority for Tunnels in Cairo to design and build two new monorail lines in Egypt. On completion of the construction phase, the consortium will be responsible for the Operation and Maintenance (O&M) of both lines for 30 years. The total value of the design, build and O&M contract exceeds $4.5 billion US (4.1 billion euro). Bombardier Transportation´s share is $2.85 billion US (2.6 billion euro). Orascom Construction’s share of the overall contract is close to $900 million US. The agreement is subject to final signatures of supplementary documents.

Danny Di Perna, President of Bombardier Transportation, said, “To be selected as the monorail system supplier in Egypt is a great privilege and our fully-automated monorail system is the smart mobility solution for Cairo’s urban future.” He added, “Our INNOVIA Monorail 300 technology has proved to be a game changer in the industry, as it allows fast construction of high capacity transit lines at lower costs. With its advanced technology, unmatched safety features and attractive aerodynamic design, this proven platform will dramatically improve the quality of life for millions of residents by significantly reducing their daily commuting time as well as reducing traffic congestion and its impact on the city.”

Osama Bishai, Chief Executive Officer of Orascom Construction PLC, commented, “We continue to play an integral role in the development of Egypt’s infrastructure, and are proud to be part of this prestigious project to build mass transportation across Cairo, the New Administrative Capital, Giza and 6th of October City. We are very pleased to collaborate with our international partner Bombardier and our local partner Arab Contractors on this project, which highlights our strength in the transportation sector and emphasizes our position as the partner of choice for international contractors in Egypt, particularly on challenging projects.”

This project supports Cairo and Egypt to enable fast, sustainable comfortable and above all safe transportation for millions of people every year in the dynamic Cairo metropolitan area. The first monorail line will extend 54 km from East Cairo to the New Administrative Capital. The second line will be 42 km long to connect 6th October City to Giza. These are the first mass transit links to connect Greater Cairo with New Capital City and 6 October City and will greatly improve mobility for Egyptian citizens. The two lines will be able to transport around 45,000 passenger per hour in each direction when ultimate capacity is reached. With operating speeds upto 80 km/h, the journey time for the new Capital City will be around 60 minutes (for 54 km line) and around 42 minutes for 6 October City (42 km line).

Orascom Construction will design and build all infrastructure and civil works, including stations, guideway structures and new depot buildings.

Bombardier will design, supply and install the electrical and mechanical (E&M) equipment for the two lines including 70 four-car BOMBARDIER INNOVIA Monorail 300 trains (280 cars), BOMBARDIER CITYFLO 650 signaling and automatic train control technology, the Operation Control Centre, communication systems, platform screen doors and fare collection, power supply / power distribution systems as well as switch beams and depot equipment. It will also provide the overall E&M system integration, project management, systems engineering and integration, test and commissioning for the trains and signalling as well as operations and maintenance of the vehicles and wayside systems.

Monorail systems are perfect for congested cities needing a fast and cost-effective to build mass transit solution and the INNOVIA Monorail 300 system provides flagship performance in driverless operations. The compact, elevated system enables easy urban integration into existing infrastructure, and its iconic aesthetics and attractive infrastructure will help to shape Cairo’s identity as a modern thriving city. The INNOVIA Monorail 300 system has been operating in Sao Paulo, Brazil, since 2014 and is currently under construction in Bangkok, Thailand and Wuhu, China.

About Bombardier Transportation Bombardier Transportation is a global mobility solution provider leading the way with the rail industry’s broadest portfolio. It covers the full spectrum of solutions, ranging from trains to sub-systems and signalling to complete turnkey transport systems, e-mobility technology and data-driven maintenance services. Combining technology and performance with empathy, Bombardier Transportation continuously breaks new ground in sustainable mobility by providing integrated solutions that create substantial benefits for operators, passengers and the environment. Headquartered in Berlin, Germany, Bombardier Transportation employs around 40,650 people and its products and services operate in over 60 countries.

About Bombardier With over 68,000 employees, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries as well as a broad portfolio of products and services for the business aviation, commercial aviation and rail transportation markets. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

About Orascom Construction PLC

Orascom Construction PLC is a leading global engineering and construction contractor primarily focused on infrastructure, industrial and high-end commercial projects in the Middle East, North Africa and the United States. The Group has consistently ranked among the world’s top contractors and is dual listed on NASDAQ Dubai and The Egyptian Exchange. Orascom Construction also develops and invests in infrastructure opportunities, owns 50% of BESIX Group, and holds a construction materials and property management portfolio. For more information, please visit www.orascom.com.

Notes to editors For news, related material and photos, visit our newsroom at www.rail.bombardier.com/en/newsroom.html. Please subscribe to our RSS Feed to receive press releases or follow Bombardier Transportation on Twitter @BombardierRail. Bombardier, INNOVIA and CITYFLO are trademarks of Bombardier Inc. or its subsidiaries.

For information

Bombardier:

You can also contact one of our worldwide contacts for specific press inquiries.

Orascom Construction PLC:Hesham El Halabyhesham.elhalaby@orascom.comir@orascom.com+971 4 318 0900www.orascom.com

Bombardier (TSX:BBD.B)
Historical Stock Chart
From Mar 2024 to Apr 2024

Bombardier (TSX:BBD.B)
Historical Stock Chart
From Apr 2023 to Apr 2024